(Mark One) | |
x | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Delaware | 75-1618004 |
(State or other jurisdiction of incorporation or organization) | (IRS Employer Identification No.) |
8000 S. Federal Way, Boise, Idaho | 83716-9632 |
(Address of principal executive offices) | (Zip Code) |
Registrant's telephone number, including area code | (208) 368-4000 |
Securities registered pursuant to Section 12(b) of the Act: | |
Title of each class | Name of each exchange on which registered |
Common Stock, par value $0.10 per share | NASDAQ Global Select Market |
Common Stock Purchase Rights |
Large Accelerated Filer x | Accelerated Filer o | Non-Accelerated Filer o (Do not check if a smaller reporting company) | Smaller Reporting Company o | Emerging Growth Company o |
Term | Definition | Term | Definition | |||
2021 MSAC Term Loan | Variable Rate MSAC Senior Secured Term Loan due 2021 | LPDRAM | Mobile Low-Power DRAM | |||
2021 MSTW Term Loan | Variable Rate MSTW Senior Secured Term Loan due 2021 | MAI | Micron Akita, Inc. | |||
2022 Notes | 5.88% Senior Notes due 2022 | MCP | Multi-Chip Package | |||
2022 Term Loan B | Senior Secured Term Loan B due 2022 | Micron | Micron Technology, Inc. (Parent Company) | |||
2023 Notes | 5.25% Senior Notes due 2023 | MLC | Multi-Level Cell (two bits per cell) | |||
2023 Secured Notes | 7.50% Senior Secured Notes due 2023 | MMJ | Micron Memory Japan, Inc. | |||
2024 Notes | 5.25% Senior Notes due 2024 | MMJ Companies | MAI and MMJ | |||
2025 Notes | 5.50% Senior Notes due 2025 | MMJ Group | MMJ and its subsidiaries | |||
2026 Notes | 5.63% Senior Notes due 2026 | MMT | Micron Memory Taiwan Co., Ltd. | |||
2032 Notes | 2032C and 2032D Notes | MSP | Micron Semiconductor Products, Inc. | |||
2032C Notes | 2.38% Convertible Senior Notes due 2032 | MSTW | Micron Semiconductor Taiwan Co., Ltd. | |||
2032D Notes | 3.13% Convertible Senior Notes due 2032 | MTTW | Micron Technology Taiwan, Inc. | |||
2033 Notes | 2033E and 2033F Notes | Nanya | Nanya Technology Corporation | |||
2033E Notes | 1.63% Convertible Senior Notes due 2033 | Qimonda | Qimonda AG | |||
2033F Notes | 2.13% Convertible Senior Notes due 2033 | R&D | Research and Development | |||
2043G Notes | 3.00% Convertible Senior Notes due 2043 | SG&A | Selling, General, and Administration | |||
Elpida | Elpida Memory, Inc. | SLC | Single-Level Cell | |||
HMC | Hybrid Memory Cube | SSD | Solid-State Drive | |||
IMFT | IM Flash Technologies, LLC | TAIBOR | Taipei Interbank Offered Rate | |||
Inotera | Inotera Memories, Inc. | Tera Probe | Tera Probe, Inc. | |||
Intel | Intel Corporation | TLC | Triple-Level Cell | |||
Japan Court | Tokyo District Court | VIE | Variable Interest Entity |
Name | Age | Position | ||
April S. Arnzen | 46 | Senior Vice President, Human Resources | ||
Scott J. DeBoer | 51 | Executive Vice President, Technology Development | ||
Ernest E. Maddock | 59 | Senior Vice President and Chief Financial Officer | ||
Sanjay Mehrotra | 59 | President and Chief Executive Officer, Director | ||
Joel L. Poppen | 53 | Senior Vice President, Legal Affairs, General Counsel, and Corporate Secretary | ||
Sumit Sadana | 48 | Executive Vice President and Chief Business Officer | ||
Steven L. Thorsen, Jr. | 52 | Senior Vice President, Worldwide Sales | ||
Robert L. Bailey | 60 | Director | ||
Richard M. Beyer | 68 | Director | ||
Patrick J. Byrne | 56 | Director | ||
Mercedes Johnson | 63 | Director | ||
Lawrence N. Mondry | 57 | Director | ||
Robert E. Switz | 70 | Chairman of the Board of Directors |
DRAM | Trade NAND | |||||
(percentage change in average selling prices) | ||||||
2017 from 2016 | 19 | % | (9 | )% | ||
2016 from 2015 | (35 | )% | (20 | )% | ||
2015 from 2014 | (11 | )% | (17 | )% | ||
2014 from 2013 | 6 | % | (23 | )% | ||
2013 from 2012 | (11 | )% | (18 | )% |
• | require us to use a large portion of our cash flow to pay principal and interest on debt, which will reduce the amount of cash flow available to fund working capital, capital expenditures, acquisitions, R&D expenditures, and other business activities; |
• | require us to use cash and/or issue shares of our common stock to settle any conversion obligations of our convertible notes; |
• | result in certain of our debt instruments being accelerated to be immediately due and payable or being deemed to be in default if certain terms of default are triggered, such as applicable cross payment default and/or cross-acceleration provisions; |
• | result in all obligations owing under the 2021 MSTW Term Loan being accelerated to be immediately due and payable if MSTW fails to comply with certain covenants, including financial covenants; |
• | increase the interest rate under the 2021 MSTW Term Loan if we or MSTW fails to maintain certain financial covenants; |
• | adversely impact our credit rating, which could increase future borrowing costs; |
• | limit our future ability to raise funds for capital expenditures, strategic acquisitions or business opportunities, R&D, and other general corporate requirements; |
• | restrict our ability to incur specified indebtedness, create or incur certain liens, and enter into sale-leaseback financing transactions; |
• | increase our vulnerability to adverse economic and semiconductor memory and storage industry conditions; |
• | increase our exposure to interest rate risk from variable rate indebtedness; |
• | continue to dilute our earnings per share as a result of the conversion provisions in our convertible notes; and |
• | require us to continue to pay cash amounts substantially in excess of the principal amounts upon settlement of our convertible notes to minimize dilution of our earnings per share. |
• | that we will be successful in developing competitive new semiconductor memory and storage technologies; |
• | that we will be able to cost-effectively manufacture new products; |
• | that we will be able to successfully market these technologies; and |
• | that margins generated from sales of these products will allow us to recover costs of development efforts. |
• | our interests could diverge from our partners' interests or we may not be able to agree with our partners on ongoing manufacturing and operational activities, or on the amount, timing, or nature of further investments in our joint ventures; |
• | our joint venture partners' products may compete with our products; |
• | we may experience difficulties in transferring technology to joint ventures; |
• | we may experience difficulties and delays in ramping production at joint ventures; |
• | our control over the operations of our joint ventures is limited; |
• | due to financial constraints, our joint venture partners may be unable to meet their commitments to us or our joint ventures and may pose credit risks for our transactions with them; |
• | due to differing business models or long-term business goals, we and our partners may not participate to the same extent on funding capital investments in our joint ventures; |
• | cash flows may be inadequate to fund increased capital requirements of our joint ventures; |
• | we may experience difficulties or delays in collecting amounts due to us from our joint ventures and partners; |
• | the terms of our partnering arrangements may turn out to be unfavorable; and |
• | changes in tax, legal, or regulatory requirements may necessitate changes in the agreements with our partners. |
• | we may be required or agree to compensate customers for costs incurred or damages caused by defective or incompatible products and to replace products; |
• | we could incur a decrease in revenue or adjustment to pricing commensurate with the reimbursement of such costs or alleged damages; and |
• | we may encounter adverse publicity, which could cause a decrease in sales of our products or harm our relationships with existing or potential customers. |
• | integrating the operations, technologies, and products of acquired or newly formed entities into our operations; |
• | increasing capital expenditures to upgrade and maintain facilities; |
• | increased debt levels; |
• | the assumption of unknown or underestimated liabilities; |
• | the use of cash to finance a transaction, which may reduce the availability of cash to fund working capital, capital expenditures, R&D expenditures, and other business activities; |
• | diverting management's attention from daily operations; |
• | managing larger or more complex operations and facilities and employees in separate and diverse geographic areas; |
• | hiring and retaining key employees; |
• | requirements imposed by governmental authorities in connection with the regulatory review of a transaction, which may include, among other things, divestitures or restrictions on the conduct of our business or the acquired business; |
• | inability to realize synergies or other expected benefits; |
• | failure to maintain customer, vendor, and other relationships; |
• | inadequacy or ineffectiveness of an acquired company's internal financial controls, disclosure controls and procedures, and/or environmental, health and safety, anti-corruption, human resource, or other policies or practices; and |
• | impairment of acquired intangible assets, goodwill, or other assets as a result of changing business conditions, technological advancements, or worse-than-expected performance of the acquired business. |
• | suspension of production; |
• | remediation costs; |
• | alteration of our manufacturing processes; |
• | regulatory penalties, fines, and legal liabilities; and |
• | reputational challenges. |
• | export and import duties, changes to import and export regulations, customs regulations and processes, and restrictions on the transfer of funds; |
• | compliance with U.S. and international laws involving international operations, including the Foreign Corrupt Practices Act of 1977, as amended, export and import laws, and similar rules and regulations; |
• | theft of intellectual property; |
• | political and economic instability; |
• | problems with the transportation or delivery of our products; |
• | issues arising from cultural or language differences and labor unrest; |
• | longer payment cycles and greater difficulty in collecting accounts receivable; |
• | compliance with trade, technical standards, and other laws in a variety of jurisdictions; |
• | contractual and regulatory limitations on our ability to maintain flexibility with our staffing levels; |
• | disruptions to our manufacturing operations as a result of actions imposed by foreign governments; |
• | changes in economic policies of foreign governments; and |
• | difficulties in staffing and managing international operations. |
Location | Principal Operations | |
United States | R&D, wafer fabrication facilities, reticle manufacturing, assembly, and test | |
Singapore | Wafer fabrication, assembly, test, and module assembly | |
China | Assembly, test, and module assembly | |
Malaysia | Assembly and test | |
Taiwan | Wafer fabrication | |
Japan | Wafer fabrication and R&D |
Fourth Quarter | Third Quarter | Second Quarter | First Quarter | |||||||||||||
2017 | ||||||||||||||||
High | $ | 32.50 | $ | 30.77 | $ | 24.79 | $ | 20.13 | ||||||||
Low | 27.49 | 25.15 | 18.61 | 16.62 | ||||||||||||
2016 | ||||||||||||||||
High | $ | 16.91 | $ | 13.11 | $ | 15.50 | $ | 19.16 | ||||||||
Low | 11.73 | 9.56 | 9.69 | 14.06 |
2012 | 2013 | 2014 | 2015 | 2016 | 2017 | |||||||||||||||||||
Micron Technology, Inc. | $ | 100 | $ | 219 | $ | 525 | $ | 264 | $ | 266 | $ | 515 | ||||||||||||
S&P 500 Composite Index | 100 | 119 | 149 | 149 | 168 | 195 | ||||||||||||||||||
Philadelphia Semiconductor Index (SOX) | 100 | 118 | 169 | 164 | 219 | 309 |
2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||
(in millions except per share amounts) | ||||||||||||||||||||
Net sales | $ | 20,322 | $ | 12,399 | $ | 16,192 | $ | 16,358 | $ | 9,073 | ||||||||||
Gross margin | 8,436 | 2,505 | 5,215 | 5,437 | 1,847 | |||||||||||||||
Operating income | 5,868 | 168 | 2,998 | 3,087 | 236 | |||||||||||||||
Net income (loss) | 5,090 | (275 | ) | 2,899 | 3,079 | 1,194 | ||||||||||||||
Net income (loss) attributable to Micron | 5,089 | (276 | ) | 2,899 | 3,045 | 1,190 | ||||||||||||||
Diluted earnings (loss) per share | 4.41 | (0.27 | ) | 2.47 | 2.54 | 1.13 | ||||||||||||||
Cash and short-term investments | 5,428 | 4,398 | 3,521 | 4,534 | 3,101 | |||||||||||||||
Total current assets | 12,457 | 9,495 | 8,596 | 10,245 | 8,911 | |||||||||||||||
Property, plant, and equipment, net | 19,431 | 14,686 | 10,554 | 8,682 | 7,626 | |||||||||||||||
Total assets | 35,336 | 27,540 | 24,143 | 22,416 | 19,068 | |||||||||||||||
Total current liabilities | 5,334 | 4,835 | 3,905 | 4,791 | 4,122 | |||||||||||||||
Long-term debt | 9,872 | 9,154 | 6,252 | 4,893 | 4,406 | |||||||||||||||
Redeemable convertible notes | 21 | — | 49 | 68 | — | |||||||||||||||
Total Micron shareholders’ equity | 18,621 | 12,080 | 12,302 | 10,760 | 9,142 | |||||||||||||||
Noncontrolling interests in subsidiaries | 849 | 848 | 937 | 802 | 864 | |||||||||||||||
Total equity | 19,470 | 12,928 | 13,239 | 11,562 | 10,006 |
• | Results of Operations: An analysis of our financial results consisting of the following: |
◦ | Consolidated results; |
◦ | Operating results by business segment; |
◦ | Operating results by product; and |
◦ | Operating expenses and other. |
• | Liquidity and Capital Resources: An analysis of changes in our balance sheet and cash flows and discussion of our financial condition and liquidity. |
• | Off-Balance Sheet Arrangements: Description of off-balance sheet arrangements. |
• | Critical Accounting Estimates: Accounting estimates that we believe are most important to understanding the assumptions and judgments incorporated in our reported financial results and forecasts. |
• | Recently Adopted and Issued Accounting Standards |
For the year ended | 2017 | 2016 | 2015 | ||||||||||||||||||
Net sales | $ | 20,322 | 100 | % | $ | 12,399 | 100 | % | $ | 16,192 | 100 | % | |||||||||
Cost of goods sold | 11,886 | 58 | % | 9,894 | 80 | % | 10,977 | 68 | % | ||||||||||||
Gross margin | 8,436 | 42 | % | 2,505 | 20 | % | 5,215 | 32 | % | ||||||||||||
Selling, general, and administrative | 743 | 4 | % | 659 | 5 | % | 719 | 4 | % | ||||||||||||
Research and development | 1,824 | 9 | % | 1,617 | 13 | % | 1,540 | 10 | % | ||||||||||||
Restructure and asset impairments | 18 | — | % | 67 | 1 | % | 3 | — | % | ||||||||||||
Other operating (income) expense, net | (17 | ) | — | % | (6 | ) | — | % | (45 | ) | — | % | |||||||||
Operating income | 5,868 | 29 | % | 168 | 1 | % | 2,998 | 19 | % | ||||||||||||
Interest income (expense), net | (560 | ) | (3 | )% | (395 | ) | (3 | )% | (336 | ) | (2 | )% | |||||||||
Other non-operating income (expense), net | (112 | ) | (1 | )% | (54 | ) | — | % | (53 | ) | — | % | |||||||||
Income tax (provision) benefit | (114 | ) | (1 | )% | (19 | ) | — | % | (157 | ) | (1 | )% | |||||||||
Equity in net income (loss) of equity method investees | 8 | — | % | 25 | — | % | 447 | 3 | % | ||||||||||||
Net income attributable to noncontrolling interests | (1 | ) | — | % | (1 | ) | — | % | — | — | % | ||||||||||
Net income (loss) attributable to Micron | $ | 5,089 | 25 | % | $ | (276 | ) | (2 | )% | $ | 2,899 | 18 | % |
For the year ended | 2017 | 2016 | 2015 | ||||||||||||||||||
CNBU | $ | 8,624 | 42 | % | $ | 4,529 | 37 | % | $ | 6,725 | 42 | % | |||||||||
SBU | 4,514 | 22 | % | 3,262 | 26 | % | 3,687 | 23 | % | ||||||||||||
MBU | 4,424 | 22 | % | 2,569 | 21 | % | 3,692 | 23 | % | ||||||||||||
EBU | 2,695 | 13 | % | 1,939 | 16 | % | 1,999 | 12 | % | ||||||||||||
All Other | 65 | — | % | 100 | 1 | % | 89 | 1 | % | ||||||||||||
$ | 20,322 | $ | 12,399 | $ | 16,192 |
For the year ended | 2017 | 2016 | 2015 | |||||||||
Net sales | $ | 8,624 | $ | 4,529 | $ | 6,725 | ||||||
Operating income (loss) | 3,755 | (25 | ) | 1,549 |
For the year ended | 2017 | 2016 | 2015 | |||||||||
Net sales | $ | 4,514 | $ | 3,262 | $ | 3,687 | ||||||
Operating income (loss) | 552 | (123 | ) | (39 | ) |
For the year ended | 2017 | 2016 | 2015 | |||||||||
Net sales | $ | 4,424 | $ | 2,569 | $ | 3,692 | ||||||
Operating income | 927 | 97 | 1,166 |
For the year ended | 2017 | 2016 | 2015 | |||||||||
Net sales | $ | 2,695 | $ | 1,939 | $ | 1,999 | ||||||
Operating income | 975 | 473 | 459 |
For the year ended | 2017 | 2016 | 2015 | ||||||||||||||||||
DRAM | $ | 12,963 | 64 | % | $ | 7,207 | 58 | % | $ | 10,339 | 64 | % | |||||||||
Trade NAND | 6,228 | 31 | % | 4,138 | 33 | % | 4,811 | 30 | % | ||||||||||||
Non-Trade | 553 | 3 | % | 501 | 4 | % | 463 | 3 | % | ||||||||||||
Other | 578 | 3 | % | 553 | 4 | % | 579 | 4 | % | ||||||||||||
$ | 20,322 | $ | 12,399 | $ | 16,192 |
For the year ended | 2017 | 2016 | ||||
(percentage change from prior year) | ||||||
Net sales | 80 | % | (30 | )% | ||
Average selling prices per gigabit | 19 | % | (35 | )% | ||
Gigabits sold | 52 | % | 7 | % | ||
Cost per gigabit | (21 | )% | (17 | )% |
For the year ended | 2017 | 2016 | ||||
(percentage change from prior year) | ||||||
Net sales | 50 | % | (14 | )% | ||
Average selling prices per gigabit | (9 | )% | (20 | )% | ||
Gigabits sold | 65 | % | 8 | % | ||
Cost per gigabit | (26 | )% | (16 | )% |
For the year ended | 2017 | 2016 | 2015 | |||||||||
Utilization of and other changes in net deferred tax assets of MMJ, MMT, and Inotera | $ | 54 | $ | (114 | ) | $ | (80 | ) | ||||
U.S. valuation allowance release resulting from business acquisition | — | 41 | — | |||||||||
Other income tax (provision) benefit, primarily other non-U.S. operations | (168 | ) | 54 | (77 | ) | |||||||
$ | (114 | ) | $ | (19 | ) | $ | (157 | ) | ||||
Effective tax rate | 2.2 | % | (6.8 | )% | 6.0 | % |
For the year ended | 2017 | 2016 | 2015 | |||||||||
Inotera | $ | 9 | $ | 32 | $ | 445 | ||||||
Tera Probe | (3 | ) | (11 | ) | 1 | |||||||
Other | 2 | 4 | 1 | |||||||||
$ | 8 | $ | 25 | $ | 447 |
• | Equity Plans |
• | Restructure and Asset Impairments |
• | Other Operating Income (Expense), Net |
• | Other Non-Operating Income (Expense), Net |
For the year ended | 2017 | 2016 | 2015 | |||||||||
Net cash provided by operating activities | $ | 8,153 | $ | 3,168 | $ | 5,208 | ||||||
Net cash provided by (used for) investing activities | (7,537 | ) | (3,044 | ) | (6,216 | ) | ||||||
Net cash provided by (used for) financing activities | 349 | 1,745 | (718 | ) | ||||||||
Effect of changes in currency exchange rates on cash, cash equivalents, and restricted cash | (12 | ) | 19 | (133 | ) | |||||||
Net increase (decrease) in cash, cash equivalents, and restricted cash | $ | 953 | $ | 1,888 | $ | (1,859 | ) |
Settlement Option for | If Settled With Minimum Cash Required Per the Terms | If Settled Entirely With Cash | ||||||||||||||||
Principal Amount | Amount in Excess of Principal | Underlying Shares | Cash | Remainder in Shares | ||||||||||||||
2032C Notes | Cash and/or shares | Cash and/or shares | 23 | $ | — | 23 | $ | 742 | ||||||||||
2032D Notes | Cash and/or shares | Cash and/or shares | 18 | — | 18 | 567 | ||||||||||||
2033E Notes(1) | Cash | Cash and/or shares | 16 | 204 | 9 | 425 | ||||||||||||
2033F Notes | Cash | Cash and/or shares | 27 | 297 | 18 | 869 | ||||||||||||
84 | $ | 501 | 68 | $ | 2,603 |
(1) | In August 2017, holders of our 2033E Notes with an aggregate principal amount of $58 million converted their notes, which were settled in the first quarter of 2018. For converted notes with an aggregate principal amount of $16 million, we elected to settle the conversion obligation in excess of the principal amount in cash. We elected to settle the remaining notes with an aggregate principal amount of $42 million with a combination of cash for the principal amount and shares of our common stock for the remainder of the settlement amount. In the first quarter of 2018, we settled the conversions for $92 million in cash and 3 million shares of our treasury stock. |
Payments Due by Period | ||||||||||||||||||||
As of August 31, 2017 | Total | Less than 1 year | 1-3 years | 3-5 years | More than 5 years | |||||||||||||||
Notes payable(1)(2) | $ | 12,611 | $ | 1,037 | $ | 3,625 | $ | 3,050 | $ | 4,899 | ||||||||||
Capital lease obligations(2) | 1,351 | 401 | 563 | 159 | 228 | |||||||||||||||
Operating leases(3) | 154 | 29 | 51 | 36 | 38 | |||||||||||||||
Purchase obligations(4) | 2,219 | 1,895 | 293 | 9 | 22 | |||||||||||||||
Other long-term liabilities(5) | 860 | 366 | 447 | 26 | 21 | |||||||||||||||
Total | $ | 17,195 | $ | 3,728 | $ | 4,979 | $ | 3,280 | $ | 5,208 |
(1) | Amounts include MMJ Creditor Payments, convertible notes, and other notes. |
(2) | Amounts include principal and interest. |
(3) | Amounts include contractually obligated minimum lease payments for operating leases having an initial noncancelable term in excess of one year. |
(4) | Purchase obligations include all commitments to purchase goods or services of either a fixed or minimum quantity that meet any of the following criteria: (1) they are noncancelable, (2) we would incur a penalty if the agreement was canceled, or (3) we must make specified minimum payments even if we do not take delivery of the contracted products or services. If the obligation to purchase goods or services is noncancelable, the entire value of the contract was included in the above table. If the obligation is cancelable, but we would incur a penalty if canceled, only the dollar amount of the penalty was included as a purchase obligation. Contracted minimum amounts specified in any take-or-pay contracts were included in the above table as they represent the portion of each contract that is a firm commitment. |
(5) | Amounts represent future cash payments to satisfy other long-term liabilities recorded on our consolidated balance sheet, including $366 million for the current portion of these long-term liabilities. We are unable to reliably estimate the timing of future certain payments related to uncertain tax positions and deferred tax liabilities; therefore, the amount has been excluded from the preceding table. However, other noncurrent liabilities recorded on our consolidated balance sheet included these uncertain tax positions and deferred tax liabilities. |
• | Debt, including discount rate and timing of payments; |
• | Deferred tax assets, including projections of future taxable income and tax rates; |
• | Fair value of consideration paid or transferred; |
• | Intangible assets, including valuation methodology, estimations of future revenue and costs, profit allocation rates attributable to the acquired technology, and discount rates; |
• | Inventory, including estimated future selling prices, timing of product sales, and completion costs for work in process; and |
• | Property, plant, and equipment, including determination of values in a continued-use model. |
Page | |
Consolidated Financial Statements as of August 31, 2017 and September 1, 2016 and for the fiscal years ended August 31, 2017, September 1, 2016, and September 3, 2015 | |
Consolidated Statements of Operations | |
Consolidated Statements of Comprehensive Income (Loss) | |
Consolidated Balance Sheets | |
Consolidated Statements of Changes in Equity | |
Consolidated Statements of Cash Flows | |
Notes to Consolidated Financial Statements | |
Report of Independent Registered Public Accounting Firm |
For the year ended | August 31, 2017 | September 1, 2016 | September 3, 2015 | |||||||||
Net sales | $ | 20,322 | $ | 12,399 | $ | 16,192 | ||||||
Cost of goods sold | 11,886 | 9,894 | 10,977 | |||||||||
Gross margin | 8,436 | 2,505 | 5,215 | |||||||||
Selling, general, and administrative | 743 | 659 | 719 | |||||||||
Research and development | 1,824 | 1,617 | 1,540 | |||||||||
Restructure and asset impairments | 18 | 67 | 3 | |||||||||
Other operating (income) expense, net | (17 | ) | (6 | ) | (45 | ) | ||||||
Operating income | 5,868 | 168 | 2,998 | |||||||||
Interest income | 41 | 42 | 35 | |||||||||
Interest expense | (601 | ) | (437 | ) | (371 | ) | ||||||
Other non-operating income (expense), net | (112 | ) | (54 | ) | (53 | ) | ||||||
5,196 | (281 | ) | 2,609 | |||||||||
Income tax (provision) benefit | (114 | ) | (19 | ) | (157 | ) | ||||||
Equity in net income (loss) of equity method investees | 8 | 25 | 447 | |||||||||
Net income (loss) | 5,090 | (275 | ) | 2,899 | ||||||||
Net (income) loss attributable to noncontrolling interests | (1 | ) | (1 | ) | — | |||||||
Net income (loss) attributable to Micron | $ | 5,089 | $ | (276 | ) | $ | 2,899 | |||||
Earnings (loss) per share | ||||||||||||
Basic | $ | 4.67 | $ | (0.27 | ) | $ | 2.71 | |||||
Diluted | 4.41 | (0.27 | ) | 2.47 | ||||||||
Number of shares used in per share calculations | ||||||||||||
Basic | 1,089 | 1,036 | 1,070 | |||||||||
Diluted | 1,154 | 1,036 | 1,170 |
For the year ended | August 31, 2017 | September 1, 2016 | September 3, 2015 | |||||||||
Net income (loss) | $ | 5,090 | $ | (275 | ) | $ | 2,899 | |||||
Other comprehensive income (loss), net of tax | ||||||||||||
Foreign currency translation adjustments | 48 | (49 | ) | (42 | ) | |||||||
Gain (loss) on derivatives, net | 15 | 7 | (18 | ) | ||||||||
Pension liability adjustments | 1 | (9 | ) | 20 | ||||||||
Gain (loss) on investments, net | — | 3 | (4 | ) | ||||||||
Other comprehensive income (loss) | 64 | (48 | ) | (44 | ) | |||||||
Total comprehensive income (loss) | 5,154 | (323 | ) | 2,855 | ||||||||
Comprehensive (income) loss attributable to noncontrolling interests | (1 | ) | (1 | ) | 1 | |||||||
Comprehensive income (loss) attributable to Micron | $ | 5,153 | $ | (324 | ) | $ | 2,856 |
As of | August 31, 2017 | September 1, 2016 | ||||||
Assets | ||||||||
Cash and equivalents | $ | 5,109 | $ | 4,140 | ||||
Short-term investments | 319 | 258 | ||||||
Receivables | 3,759 | 2,068 | ||||||
Inventories | 3,123 | 2,889 | ||||||
Other current assets | 147 | 140 | ||||||
Total current assets | 12,457 | 9,495 | ||||||
Long-term marketable investments | 617 | 414 | ||||||
Property, plant, and equipment, net | 19,431 | 14,686 | ||||||
Equity method investments | 16 | 1,364 | ||||||
Intangible assets, net | 387 | 464 | ||||||
Deferred tax assets | 766 | 657 | ||||||
Goodwill | 1,228 | 104 | ||||||
Other noncurrent assets | 434 | 356 | ||||||
Total assets | $ | 35,336 | $ | 27,540 | ||||
Liabilities and equity | ||||||||
Accounts payable and accrued expenses | $ | 3,664 | $ | 3,879 | ||||
Deferred income | 408 | 200 | ||||||
Current debt | 1,262 | 756 | ||||||
Total current liabilities | 5,334 | 4,835 | ||||||
Long-term debt | 9,872 | 9,154 | ||||||
Other noncurrent liabilities | 639 | 623 | ||||||
Total liabilities | 15,845 | 14,612 | ||||||
Commitments and contingencies | ||||||||
Redeemable convertible notes | 21 | — | ||||||
Micron shareholders' equity | ||||||||
Common stock, $0.10 par value, 3,000 shares authorized, 1,116 shares issued and 1,112 outstanding (1,094 shares issued and 1,040 outstanding as of September 1, 2016) | 112 | 109 | ||||||
Additional capital | 8,287 | 7,736 | ||||||
Retained earnings | 10,260 | 5,299 | ||||||
Treasury stock, 4 shares held (54 shares as of September 1, 2016) | (67 | ) | (1,029 | ) | ||||
Accumulated other comprehensive income (loss) | 29 | (35 | ) | |||||
Total Micron shareholders' equity | 18,621 | 12,080 | ||||||
Noncontrolling interests in subsidiaries | 849 | 848 | ||||||
Total equity | 19,470 | 12,928 | ||||||
Total liabilities and equity | $ | 35,336 | $ | 27,540 |
Micron Shareholders | |||||||||||||||||||||||||||||||||||
Common Stock | Additional Capital | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Income (Loss) | Total Micron Shareholders' Equity | Noncontrolling Interests in Subsidiaries | Total Equity | ||||||||||||||||||||||||||||
Number of Shares | Amount | ||||||||||||||||||||||||||||||||||
Balance at August 28, 2014 | 1,073 | $ | 107 | $ | 7,868 | $ | 2,729 | $ | — | $ | 56 | $ | 10,760 | $ | 802 | $ | 11,562 | ||||||||||||||||||
Net income | 2,899 | 2,899 | — | 2,899 | |||||||||||||||||||||||||||||||
Other comprehensive income (loss), net | (43 | ) | (43 | ) | (1 | ) | (44 | ) | |||||||||||||||||||||||||||
Stock issued under stock plans | 13 | 1 | 73 | 74 | 74 | ||||||||||||||||||||||||||||||
Stock-based compensation expense | 168 | 168 | 168 | ||||||||||||||||||||||||||||||||
Contributions from noncontrolling interests | — | 142 | 142 | ||||||||||||||||||||||||||||||||
Distributions to noncontrolling interests | — | (6 | ) | (6 | ) | ||||||||||||||||||||||||||||||
Repurchase and retirement of stock | (2 | ) | — | (13 | ) | (40 | ) | (53 | ) | (53 | ) | ||||||||||||||||||||||||
Repurchase of treasury stock | (831 | ) | (831 | ) | (831 | ) | |||||||||||||||||||||||||||||
Settlement of capped calls | 50 | (50 | ) | — | — | ||||||||||||||||||||||||||||||
Reclassification of redeemable convertible notes, net | 19 | 19 | 19 | ||||||||||||||||||||||||||||||||
Conversion and repurchase of convertible notes | (691 | ) | (691 | ) | (691 | ) | |||||||||||||||||||||||||||||
Balance at September 3, 2015 | 1,084 | $ | 108 | $ | 7,474 | $ | 5,588 | $ | (881 | ) | $ | 13 | $ | 12,302 | $ | 937 | $ | 13,239 | |||||||||||||||||
Net income (loss) | (276 | ) | (276 | ) | 1 | (275 | ) | ||||||||||||||||||||||||||||
Other comprehensive income (loss), net | (48 | ) | (48 | ) | — | (48 | ) | ||||||||||||||||||||||||||||
Stock issued under stock plans | 11 | 1 | 47 | 48 | 48 | ||||||||||||||||||||||||||||||
Stock-based compensation expense | 191 | 191 | 191 | ||||||||||||||||||||||||||||||||
Contributions from noncontrolling interests | — | 37 | 37 | ||||||||||||||||||||||||||||||||
Distributions to noncontrolling interests | — | (34 | ) | (34 | ) | ||||||||||||||||||||||||||||||
Acquisitions of noncontrolling interests | — | (93 | ) | (93 | ) | ||||||||||||||||||||||||||||||
Repurchase and retirement of stock | (1 | ) | — | (10 | ) | (13 | ) | (23 | ) | (23 | ) | ||||||||||||||||||||||||
Repurchase of treasury stock | (125 | ) | (125 | ) | (125 | ) | |||||||||||||||||||||||||||||
Settlement of capped calls | 23 | (23 | ) | — | — | ||||||||||||||||||||||||||||||
Reclassification of redeemable convertible notes, net | 49 | 49 | 49 | ||||||||||||||||||||||||||||||||
Conversion and repurchase of convertible notes | (38 | ) | (38 | ) | (38 | ) | |||||||||||||||||||||||||||||
Balance at September 1, 2016 | 1,094 | $ | 109 | $ | 7,736 | $ | 5,299 | $ | (1,029 | ) | $ | (35 | ) | $ | 12,080 | $ | 848 | $ | 12,928 | ||||||||||||||||
Net income | 5,089 | 5,089 | 1 | 5,090 | |||||||||||||||||||||||||||||||
Other comprehensive income (loss), net | 64 | 64 | — | 64 | |||||||||||||||||||||||||||||||
Stock issued under stock plans | 20 | 3 | 139 | 142 | 142 | ||||||||||||||||||||||||||||||
Stock-based compensation expense | 217 | (2 | ) | 215 | 215 | ||||||||||||||||||||||||||||||
Repurchase and retirement of stock | (2 | ) | — | (13 | ) | (22 | ) | (35 | ) | (35 | ) | ||||||||||||||||||||||||
Stock issued to Nanya for Inotera Acquisition | 4 | — | 70 | (104 | ) | 1,029 | 995 | 995 | |||||||||||||||||||||||||||
Settlement of capped calls | 192 | (67 | ) | 125 | 125 | ||||||||||||||||||||||||||||||
Reclassification of redeemable convertible notes, net | (21 | ) | (21 | ) | (21 | ) | |||||||||||||||||||||||||||||
Conversion and repurchase of convertible notes | (33 | ) | (33 | ) | (33 | ) | |||||||||||||||||||||||||||||
Balance at August 31, 2017 | 1,116 | $ | 112 | $ | 8,287 | $ | 10,260 | $ | (67 | ) | $ | 29 | $ | 18,621 | $ | 849 | $ | 19,470 |
For the year ended | August 31, 2017 | September 1, 2016 | September 3, 2015 | |||||||||
Cash flows from operating activities | ||||||||||||
Net income (loss) | $ | 5,090 | $ | (275 | ) | $ | 2,899 | |||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities | ||||||||||||
Depreciation expense and amortization of intangible assets | 3,861 | 2,980 | 2,667 | |||||||||
Amortization of debt discount and other costs | 125 | 126 | 138 | |||||||||
Stock-based compensation | 215 | 191 | 168 | |||||||||
Loss on debt repurchases and conversions | 99 | 4 | 49 | |||||||||
Gain on remeasurement of previously-held equity interest in Inotera | (71 | ) | — | — | ||||||||
Equity in net (income) loss of equity method investees | (8 | ) | (25 | ) | (447 | ) | ||||||
Change in operating assets and liabilities | ||||||||||||
Receivables | (1,651 | ) | 465 | 393 | ||||||||
Inventories | 50 | (549 | ) | 116 | ||||||||
Accounts payable and accrued expenses | 564 | 272 | (691 | ) | ||||||||
Payments attributed to intercompany balances with Inotera | (361 | ) | — | — | ||||||||
Deferred income | 218 | (6 | ) | (105 | ) | |||||||
Other | 22 | (15 | ) | 21 | ||||||||
Net cash provided by operating activities | 8,153 | 3,168 | 5,208 | |||||||||
Cash flows from investing activities | ||||||||||||
Expenditures for property, plant, and equipment | (4,734 | ) | (5,817 | ) | (4,021 | ) | ||||||
Acquisition of Inotera | (2,634 | ) | — | — | ||||||||
Purchases of available-for-sale securities | (1,239 | ) | (1,026 | ) | (4,392 | ) | ||||||
Payments to settle hedging activities | (274 | ) | (152 | ) | (132 | ) | ||||||
Proceeds from sales and maturities of available-for-sale securities | 970 | 3,690 | 2,248 | |||||||||
Proceeds from settlement of hedging activities | 184 | 335 | 56 | |||||||||
Other | 190 | (74 | ) | 25 | ||||||||
Net cash provided by (used for) investing activities | (7,537 | ) | (3,044 | ) | (6,216 | ) | ||||||
Cash flows from financing activities | ||||||||||||
Proceeds from issuance of debt | 3,311 | 2,199 | 2,212 | |||||||||
Proceeds from issuance of stock under equity plans | 142 | 48 | 74 | |||||||||
Proceeds from equipment sale-leaseback transactions | — | 765 | 291 | |||||||||
Repayments of debt | (2,558 | ) | (870 | ) | (2,329 | ) | ||||||
Payments on equipment purchase contracts | (519 | ) | (46 | ) | (95 | ) | ||||||
Cash paid to acquire treasury stock | (35 | ) | (148 | ) | (884 | ) | ||||||
Other | 8 | (203 | ) | 13 | ||||||||
Net cash provided by (used for) financing activities | 349 | 1,745 | (718 | ) | ||||||||
Effect of changes in currency exchange rates on cash, cash equivalents, and restricted cash | (12 | ) | 19 | (133 | ) | |||||||
Net increase (decrease) in cash, cash equivalents, and restricted cash | 953 | 1,888 | (1,859 | ) | ||||||||
Cash, cash equivalents, and restricted cash at beginning of period | 4,263 | 2,375 | 4,234 | |||||||||
Cash, cash equivalents, and restricted cash at end of period | $ | 5,216 | $ | 4,263 | $ | 2,375 | ||||||
Supplemental disclosures | ||||||||||||
Income taxes paid, net | $ | (99 | ) | $ | (90 | ) | $ | (63 | ) | |||
Interest paid, net of amounts capitalized | (468 | ) | (267 | ) | (226 | ) | ||||||
Noncash investing and financing activity | ||||||||||||
Equipment acquisitions on contracts payable and capital leases | 813 | 993 | 345 |
Consideration | ||||
Cash paid for Inotera Acquisition | $ | 4,099 | ||
Less cash received from sale of Micron Shares | (986 | ) | ||
Net cash paid for Inotera Acquisition | 3,113 | |||
Fair value of our previously-held equity interest in Inotera | 1,441 | |||
Fair value of Micron Shares exchanged for Inotera shares | 995 | |||
Other | 3 | |||
Payments attributed to intercompany balances with Inotera | (361 | ) | ||
$ | 5,191 | |||
Assets acquired and liabilities assumed | ||||
Cash and equivalents | $ | 118 | ||
Inventories | 285 | |||
Other current assets | 27 | |||
Property, plant, and equipment | 3,722 | |||
Deferred tax assets | 82 | |||
Goodwill | 1,124 | |||
Other noncurrent assets | 130 | |||
Accounts payable and accrued expenses | (232 | ) | ||
Debt | (56 | ) | ||
Other noncurrent liabilities | (9 | ) | ||
$ | 5,191 |
Year ended | ||||||||
August 31, 2017 | September 1, 2016 | |||||||
Net sales | $ | 20,317 | $ | 12,341 | ||||
Net income (loss) | 5,172 | (543 | ) | |||||
Net income (loss) attributable to Micron | 5,171 | (544 | ) | |||||
Earnings (loss) per share | ||||||||
Basic | 4.68 | (0.50 | ) | |||||
Diluted | 4.42 | (0.50 | ) |
As of | 2017 | 2016 | ||||||||||||||||||||||||||||||
Cash and Equivalents | Short-term Investments | Long-term Marketable Investments(1) | Total Fair Value | Cash and Equivalents | Short-term Investments | Long-term Marketable Investments(1) | Total Fair Value | |||||||||||||||||||||||||
Cash | $ | 2,237 | $ | — | $ | — | $ | 2,237 | $ | 2,258 | $ | — | $ | — | $ | 2,258 | ||||||||||||||||
Level 1(2) | ||||||||||||||||||||||||||||||||
Money market funds | 2,332 | — | — | 2,332 | 1,507 | — | — | 1,507 | ||||||||||||||||||||||||
Level 2(3) | ||||||||||||||||||||||||||||||||
Certificates of deposit | 483 | 24 | 3 | 510 | 373 | 33 | — | 406 | ||||||||||||||||||||||||
Corporate bonds | — | 193 | 315 | 508 | — | 142 | 235 | 377 | ||||||||||||||||||||||||
Government securities | 1 | 90 | 126 | 217 | 2 | 62 | 82 | 146 | ||||||||||||||||||||||||
Asset-backed securities | — | 2 | 173 | 175 | — | 12 | 97 | 109 | ||||||||||||||||||||||||
Commercial paper | 56 | 10 | — | 66 | — | 9 | — | 9 | ||||||||||||||||||||||||
5,109 | $ | 319 | $ | 617 | $ | 6,045 | 4,140 | $ | 258 | $ | 414 | $ | 4,812 | |||||||||||||||||||
Restricted cash(4) | 107 | 123 | ||||||||||||||||||||||||||||||
Cash, cash equivalents, and restricted cash | $ | 5,216 | $ | 4,263 |
(1) | The maturities of long-term marketable securities range from one to four years. |
(2) | The fair value of Level 1 securities is measured based on quoted prices in active markets for identical assets. |
(3) | The fair value of Level 2 securities is measured using information obtained from pricing services, which obtain quoted market prices for similar instruments, non-binding market consensus prices that are corroborated by observable market data, or various other methodologies, to determine the appropriate value at the measurement date. We perform supplemental analysis to validate information obtained from these pricing services. No adjustments were made to such pricing information as of August 31, 2017 or September 1, 2016. |
(4) | Restricted cash is included in other noncurrent assets and generally represents balances related to the MMJ Creditor Payments and interest reserve balances related to the 2021 MSTW Term Loan. The restrictions on the MMJ Creditor Payments lapse upon approval by the trustees and/or Japan Court. The restrictions on the interest reserve balances lapse in proportion to the reduction in the amount of interest expected to be paid under the 2021 MSTW Term Loan for the subsequent six months. (See "Debt" note.) |
As of | 2017 | 2016 | ||||||
Trade receivables | $ | 3,490 | $ | 1,765 | ||||
Income and other taxes | 100 | 119 | ||||||
Other | 169 | 184 | ||||||
$ | 3,759 | $ | 2,068 |
As of | 2017 | 2016 | ||||||
Finished goods | $ | 856 | $ | 899 | ||||
Work in process | 1,968 | 1,761 | ||||||
Raw materials and supplies | 299 | 229 | ||||||
$ | 3,123 | $ | 2,889 |
As of | 2017 | 2016 | ||||||
Land | $ | 345 | $ | 145 | ||||
Buildings (includes $475 and $347, respectively, under capital leases) | 7,958 | 6,653 | ||||||
Equipment(1) (includes $1,331 and $1,374, respectively, under capital leases) | 32,187 | 25,910 | ||||||
Construction in progress(2) | 499 | 475 | ||||||
Software | 544 | 422 | ||||||
41,533 | 33,605 | |||||||
Accumulated depreciation (includes $626 and $492, respectively, under capital leases) | (22,102 | ) | (18,919 | ) | ||||
$ | 19,431 | $ | 14,686 |
(1) | Included costs related to equipment not placed into service of $994 million and $1.47 billion, as of August 31, 2017 and September 1, 2016, respectively. |
(2) | Included building-related construction and tool installation costs for assets not placed into service. |
As of | 2017 | 2016 | ||||||||||||
Investment Balance | Ownership Percentage | Investment Balance | Ownership Percentage | |||||||||||
Inotera | $ | — | — | % | $ | 1,314 | 33 | % | ||||||
Tera Probe | — | — | % | 36 | 40 | % | ||||||||
Other | 16 | Various | 14 | Various | ||||||||||
$ | 16 | $ | 1,364 |
For the year ended | 2017 | 2016 | 2015 | |||||||||
Inotera | $ | 9 | $ | 32 | $ | 445 | ||||||
Tera Probe | (3 | ) | (11 | ) | 1 | |||||||
Other | 2 | 4 | 1 | |||||||||
$ | 8 | $ | 25 | $ | 447 |
As of | 2017 | 2016 | ||||||
Current assets | $ | 107 | $ | 1,222 | ||||
Noncurrent assets | 256 | 4,294 | ||||||
Current liabilities | 19 | 604 | ||||||
Noncurrent liabilities | 66 | 411 |
For the year ended | 2017 | 2016 | 2015 | |||||||||
Net sales | $ | 557 | $ | 1,671 | $ | 2,647 | ||||||
Gross margin | 82 | 155 | 1,253 | |||||||||
Operating income | 126 | 199 | 1,191 | |||||||||
Net income | 76 | 184 | 1,361 |
As of | 2017 | 2016 | ||||||||||||||
Gross Amount | Accumulated Amortization | Gross Amount | Accumulated Amortization | |||||||||||||
Amortizing assets | ||||||||||||||||
Product and process technology | $ | 755 | $ | (476 | ) | $ | 757 | $ | (402 | ) | ||||||
Other | 1 | (1 | ) | 1 | — | |||||||||||
756 | (477 | ) | 758 | (402 | ) | |||||||||||
Non-amortizing assets | ||||||||||||||||
In-process R&D | 108 | — | 108 | — | ||||||||||||
Total intangible assets | $ | 864 | $ | (477 | ) | $ | 866 | $ | (402 | ) | ||||||
Goodwill | $ | 1,228 | $ | 104 |
As of | 2017 | 2016 | ||||||
Accounts payable | $ | 1,333 | $ | 1,186 | ||||
Property, plant, and equipment payables | 1,018 | 1,649 | ||||||
Salaries, wages, and benefits | 603 | 289 | ||||||
Related party payables | — | 273 | ||||||
Customer advances | 197 | 132 | ||||||
Income and other taxes | 163 | 41 | ||||||
Other | 350 | 309 | ||||||
$ | 3,664 | $ | 3,879 |
2017 | 2016 | |||||||||||||||||||||||||||||||||||||
Net Carrying Amount | Net Carrying Amount | |||||||||||||||||||||||||||||||||||||
Instrument | Stated Rate | Effective Rate | Principal | Current | Long-Term | Total(1) | Principal | Current | Long-Term | Total(1) | ||||||||||||||||||||||||||||
MMJ Creditor Payments | N/A | 6.52 | % | $ | 695 | $ | 157 | $ | 474 | $ | 631 | $ | 985 | $ | 189 | $ | 680 | $ | 869 | |||||||||||||||||||
Capital lease obligations | N/A | 3.68 | % | 1,190 | 357 | 833 | 1,190 | 1,406 | 380 | 1,026 | 1,406 | |||||||||||||||||||||||||||
2021 MSAC Term Loan | 3.61 | % | 3.85 | % | 800 | 99 | 697 | 796 | — | — | — | — | ||||||||||||||||||||||||||
2021 MSTW Term Loan | 2.85 | % | 3.02 | % | 2,652 | — | 2,640 | 2,640 | — | — | — | — | ||||||||||||||||||||||||||
2022 Notes | 5.88 | % | 6.14 | % | — | — | — | — | 600 | — | 590 | 590 | ||||||||||||||||||||||||||
2022 Term Loan B | 3.80 | % | 4.22 | % | 743 | 5 | 725 | 730 | 750 | 5 | 730 | 735 | ||||||||||||||||||||||||||
2023 Notes | 5.25 | % | 5.43 | % | 1,000 | — | 991 | 991 | 1,000 | — | 990 | 990 | ||||||||||||||||||||||||||
2023 Secured Notes | 7.50 | % | 7.69 | % | 1,250 | — | 1,238 | 1,238 | 1,250 | — | 1,237 | 1,237 | ||||||||||||||||||||||||||
2024 Notes | 5.25 | % | 5.38 | % | 550 | — | 546 | 546 | 550 | — | 546 | 546 | ||||||||||||||||||||||||||
2025 Notes | 5.50 | % | 5.56 | % | 519 | — | 515 | 515 | 1,150 | — | 1,139 | 1,139 | ||||||||||||||||||||||||||
2026 Notes | 5.63 | % | 5.73 | % | 129 | — | 128 | 128 | 450 | — | 446 | 446 | ||||||||||||||||||||||||||
2032C Notes(2) | 2.38 | % | 5.95 | % | 223 | — | 211 | 211 | 223 | — | 204 | 204 | ||||||||||||||||||||||||||
2032D Notes(2) | 3.13 | % | 6.33 | % | 177 | — | 159 | 159 | 177 | — | 154 | 154 | ||||||||||||||||||||||||||
2033E Notes(2) | 1.63 | % | 4.50 | % | 173 | 202 | — | 202 | 176 | — | 168 | 168 | ||||||||||||||||||||||||||
2033F Notes(2) | 2.13 | % | 4.93 | % | 297 | 278 | — | 278 | 297 | — | 271 | 271 | ||||||||||||||||||||||||||
2043G Notes(3) | 3.00 | % | 6.76 | % | 1,025 | — | 671 | 671 | 1,025 | — | 657 | 657 | ||||||||||||||||||||||||||
Other notes | 2.13 | % | 2.66 | % | 216 | 164 | 44 | 208 | 512 | 182 | 316 | 498 | ||||||||||||||||||||||||||
$ | 11,639 | $ | 1,262 | $ | 9,872 | $ | 11,134 | $ | 10,551 | $ | 756 | $ | 9,154 | $ | 9,910 |
(1) | Net carrying amount is the principal amount less unamortized debt discount and issuance costs. In addition, the net carrying amount for our 2033E Notes for 2017 included $31 million of derivative debt liabilities recognized as a result of our election to settle entirely in cash converted notes with an aggregate principal amount of $16 million. |
(2) | Since the closing price of our common stock exceeded 130% of the conversion price per share for at least 20 trading days in the 30 trading day period ended on June 30, 2017, these notes are convertible by the holders through the calendar quarter ended September 30, 2017. The closing price of our common stock also exceeded the thresholds for the calendar quarter ended September 30, 2017; therefore, these notes are convertible by the holders through December 31, 2017. The 2033 Notes were classified as current as of August 31, 2017 because the terms of these notes require us to pay cash for the principal amount of any converted notes and holders of these notes had the right to convert their notes as of that date. |
(3) | The 2043G Notes have an original principal amount of $820 million that accretes up to $917 million through the expected term in November 2028 and $1.03 billion at maturity in 2043. |
2018 | ¥ | 17,675 | $ | 160 | ||||
2019 | 27,154 | 246 | ||||||
2020 | 31,762 | 289 | ||||||
76,591 | 695 | |||||||
Less unamortized discount | (7,075 | ) | (64 | ) | ||||
¥ | 69,516 | $ | 631 |
• | MSTW must maintain a consolidated ratio of total liabilities to adjusted EBITDA not higher than 5.5x in 2017 and 2018, and not higher than 4.5x in 2019 through 2021; |
• | MSTW must maintain adjusted consolidated tangible net worth of not less than 4.0 billion New Taiwan dollars in 2017 and 2018, not less than 6.5 billion New Taiwan dollars in 2019 and 2020, and not less than 12.0 billion New Taiwan dollars in 2021; |
• | on a consolidated basis, Micron must maintain a ratio of total liabilities to adjusted EBITDA not higher than 3.5x in 2017, not higher than 3.0x in 2018 and 2019, and not higher than 2.5x in 2020 and 2021; and |
• | on a consolidated basis, Micron must maintain adjusted tangible net worth not less than $9.0 billion in 2017, not less than $12.5 billion in 2018 and 2019, and not less than $16.5 billion in 2020 and 2021. |
Maturity Date | Redemption Period Requiring Payment of: | Redemption of up to 35% of Original Principal Amount Using Cash Proceeds From an Equity Offering(3) | |||||||||
Make-Whole(1) | Premium(2) | Date | Specified Price | ||||||||
2023 Notes(4) | Aug 2023 | Prior to Feb 1, 2018 | On or after Feb 1, 2018 | Prior to Feb 1, 2018 | 105.250 | % | |||||
2024 Notes | Jan 2024 | Prior to May 1, 2018 | On or after May 1, 2018 | Prior to May 1, 2018 | 105.250 | % | |||||
2025 Notes | Feb 2025 | Prior to Aug 1, 2019 | On or after Aug 1, 2019 | N/A | N/A | ||||||
2026 Notes | Jan 2026 | Prior to May 1, 2020 | On or after May 1, 2020 | N/A | N/A |
(1) | If we redeem prior to the applicable date, the redemption price is principal plus a make-whole premium as described in the applicable indenture. |
(2) | If we redeem on or after the applicable date, the redemption price is principal plus a premium which declines over time as specified in the applicable indenture. |
(3) | If we redeem prior to the applicable date with net cash proceeds of one or more equity offerings, the redemption price is equal to the amount specified above, together with accrued and unpaid interest, subject to a maximum redemption of 35% of the aggregate original principal amount of the respective series of notes being redeemed. The 2025 Notes and 2026 Notes can not be redeemed with cash proceeds from an equity offering because the principal amount outstanding as of August 31, 2017 of such notes is less than 65% of the original principal amount issued. |
(4) | In the first quarter of 2018, we issued a notice to redeem our 2023 Notes. See "Debt Repurchases and Conversions" below. |
Holder Put Date(1) | Maturity Date | Conversion Price Per Share | Conversion Price Per Share Threshold(2) | Underlying Shares of Common Stock | Conversion Value in Excess of Principal(3) | Principal Settlement Option(4) | |||||||||||||||
2032C Notes | May 2019 | May 2032 | $ | 9.63 | $ | 12.52 | 23 | $ | 519 | Cash and/or shares | |||||||||||
2032D Notes | May 2021 | May 2032 | 9.98 | 12.97 | 18 | 390 | Cash and/or shares | ||||||||||||||
2033E Notes(5) | Feb 2018 | Feb 2033 | 10.93 | 14.21 | 16 | 332 | Cash | ||||||||||||||
2033F Notes(5) | Feb 2020 | Feb 2033 | 10.93 | 14.21 | 27 | 572 | Cash | ||||||||||||||
2043G Notes | Nov 2028 | Nov 2043 | 29.16 | 37.91 | 35 | 99 | Cash and/or shares | ||||||||||||||
119 | $ | 1,912 |
(1) | Debt discount and debt issuance costs are amortized through the earliest holder put date. |
(2) | Represents 130% of the conversion price per share. If the trading price of our common stock price exceeds such threshold for a specified period, holders may convert such notes. See "Conversion Rights" below. |
(3) | Based on the trading price of our common stock of $31.97 as of August 31, 2017. |
(4) | It is our current intent to settle in cash the principal amount of our convertible notes upon conversion. As a result, only the amounts payable in excess of the principal amounts upon conversion of our convertible notes are considered in diluted earnings per share under the treasury stock method. For each of our convertible notes, we may elect to settle any amounts in excess of the principal in cash, shares of our common stock, or a combination thereof. |
(5) | Holders of the 2033E Notes and 2033F Notes may also put their notes to us on February 15, 2023. |
Conditional Redemption Period at Our Option(1) | Unconditional Redemption Period at Our Option | Redemption Period Requiring Make-Whole | ||||
2032C Notes | On or after May 1, 2016 | On or after May 4, 2019 | Prior to May 4, 2019(2) | |||
2032D Notes | On or after May 1, 2017 | On or after May 4, 2021 | Prior to May 4, 2021(2) | |||
2033E Notes | N/A | On or after Feb 20, 2018 | N/A | |||
2033F Notes | N/A | On or after Feb 20, 2020 | N/A | |||
2043G Notes | Prior to Nov 20, 2018 | On or after Nov 20, 2018 | Prior to Nov 20, 2018(3) |
(1) | We may redeem for cash on or after the applicable dates if the volume weighted average price of our common stock has been at least 130% of the conversion price for at least 20 trading days during any 30 consecutive trading day period. |
(2) | If we redeem prior to the applicable date, we will pay a make-whole premium in cash equal to the present value of the remaining scheduled interest payments from the redemption date to May 4, 2019 for the 2032C Notes and to May 4, 2021 for the 2032D Notes. |
(3) | If we redeem prior to the applicable date, we will be required to pay a make-whole premium only if, as a result of our redemption notice, holders convert their notes. The make-whole premium will be based on the price of our common stock and the conversion date, as set forth in the indenture, and is payable at our election in cash and/or shares. |
Notes Payable | Capital Lease Obligations | |||||||
2018 | $ | 641 | $ | 402 | ||||
2019 | 1,166 | 334 | ||||||
2020 | 1,727 | 229 | ||||||
2021 | 1,269 | 97 | ||||||
2022 | 1,204 | 62 | ||||||
2023 and thereafter | 4,365 | 227 | ||||||
Unamortized discounts and interest, respectively | (428 | ) | (161 | ) | ||||
$ | 9,944 | $ | 1,190 |
2018 | $ | 29 | ||
2019 | 28 | |||
2020 | 23 | |||
2021 | 19 | |||
2022 | 17 | |||
2023 and thereafter | 38 | |||
$ | 154 |
Capped Calls | Strike Price | Weighted-Average Cap Price | Underlying Common Shares | Value at Expiration | |||||||||||||||||||
Expiration Dates | Minimum | Maximum | |||||||||||||||||||||
2032C | Nov 2016 | – | Nov 2017 | $ | 9.80 | $ | 15.69 | 25 | $ | — | $ | 147 | |||||||||||
2032D | Nov 2016 | – | May 2018 | 10.16 | 15.91 | 32 | — | 184 | |||||||||||||||
2033E | Jan 2018 | – | Feb 2018 | 10.93 | 14.51 | 27 | — | 98 | |||||||||||||||
2033F | Jan 2020 | – | Feb 2020 | 10.93 | 14.51 | 27 | — | 98 | |||||||||||||||
111 | $ | — | $ | 527 |
Cumulative Foreign Currency Translation Adjustments | Gains (Losses) on Derivative Instruments, Net | Pension Liability Adjustments | Total | |||||||||||||
As of September 1, 2016 | $ | (49 | ) | $ | 2 | $ | 12 | $ | (35 | ) | ||||||
Other comprehensive income | 27 | 15 | 4 | 46 | ||||||||||||
Amount reclassified out of accumulated other comprehensive income | 21 | 1 | (1 | ) | 21 | |||||||||||
Tax effects | — | (1 | ) | (2 | ) | (3 | ) | |||||||||
Other comprehensive income | 48 | 15 | 1 | 64 | ||||||||||||
As of August 31, 2017 | $ | (1 | ) | $ | 17 | $ | 13 | $ | 29 |
As of | 2017 | 2016 | ||||||||||||
Noncontrolling Interest Balance | Noncontrolling Interest Percentage | Noncontrolling Interest Balance | Noncontrolling Interest Percentage | |||||||||||
IMFT | $ | 832 | 49 | % | $ | 832 | 49 | % | ||||||
Other | 17 | Various | 16 | Various | ||||||||||
$ | 849 | $ | 848 |
As of | 2017 | 2016 | ||||||
Assets | ||||||||
Cash and equivalents | $ | 87 | $ | 98 | ||||
Receivables | 81 | 89 | ||||||
Inventories | 128 | 68 | ||||||
Other current assets | 7 | 6 | ||||||
Total current assets | 303 | 261 | ||||||
Property, plant, and equipment, net | 1,852 | 1,792 | ||||||
Other noncurrent assets | 49 | 50 | ||||||
Total assets | $ | 2,204 | $ | 2,103 | ||||
Liabilities | ||||||||
Accounts payable and accrued expenses | $ | 299 | $ | 175 | ||||
Deferred income | 6 | 7 | ||||||
Current debt | 19 | 16 | ||||||
Total current liabilities | 324 | 198 | ||||||
Long-term debt | 75 | 66 | ||||||
Other noncurrent liabilities | 88 | 94 | ||||||
Total liabilities | $ | 487 | $ | 358 |
For the year ended | 2016 | 2015 | ||||||
IMFT distributions to Micron | $ | 36 | $ | 6 | ||||
IMFT distributions to Intel | 34 | 6 | ||||||
Micron contributions to IMFT | 38 | 148 | ||||||
Intel contributions to IMFT | 37 | 142 |
As of | 2017 | 2016 | ||||||||||||||
Fair Value | Carrying Value | Fair Value | Carrying Value | |||||||||||||
Notes and MMJ Creditor Payments | $ | 8,793 | $ | 8,423 | $ | 7,257 | $ | 7,050 | ||||||||
Convertible notes | 3,901 | 1,521 | 2,408 | 1,454 |
Notional Amount(1) | Fair Value of | |||||||||||||||
Current Assets(2) | Current Liabilities(3) | Noncurrent Assets(4) | ||||||||||||||
As of August 31, 2017 | ||||||||||||||||
Currency forward contracts | ||||||||||||||||
New Taiwan dollar | $ | 2,921 | $ | 22 | $ | (2 | ) | $ | — | |||||||
Yen | 1,209 | 5 | — | 1 | ||||||||||||
Euro | 368 | 5 | (2 | ) | — | |||||||||||
Singapore dollar | 324 | 1 | — | — | ||||||||||||
Other | 25 | 1 | (1 | ) | — | |||||||||||
$ | 4,847 | |||||||||||||||
Convertible notes settlement obligation | 2 | — | (47 | ) | — | |||||||||||
$ | 34 | $ | (52 | ) | $ | 1 | ||||||||||
As of September 1, 2016 | ||||||||||||||||
Currency forward contracts | ||||||||||||||||
Yen | $ | 1,668 | $ | — | $ | (10 | ) | $ | — | |||||||
Euro | 93 | — | — | — | ||||||||||||
Singapore dollar | 206 | — | — | — | ||||||||||||
Other | 85 | — | (1 | ) | — | |||||||||||
$ | 2,052 | $ | — | $ | (11 | ) | $ | — |
(1) | Notional amounts of forward contracts in U.S. dollars and convertible notes settlement obligations in shares. |
(2) | Included in receivables – other. |
(3) | Included in accounts payable and accrued expenses – other for forward contracts and in current debt for convertible notes settlement obligations. |
(4) | Included in other noncurrent assets. |
For the year ended | 2017 | 2016 | 2015 | |||||||||
Foreign exchange contracts | $ | (45 | ) | $ | 185 | $ | (64 | ) | ||||
Convertible notes settlement obligations | (2 | ) | — | 7 |
Notional Amount (in U.S. Dollars) | Fair Value | |||||||||||
Current Assets(1) | Current Liabilities(2) | |||||||||||
As of August 31, 2017 | ||||||||||||
Yen | $ | 258 | $ | 4 | $ | — | ||||||
Euro | 198 | 13 | — | |||||||||
$ | 456 | $ | 17 | $ | — | |||||||
As of September 1, 2016 | ||||||||||||
Yen | $ | 107 | $ | 2 | $ | (1 | ) | |||||
Euro | 65 | — | (1 | ) | ||||||||
$ | 172 | $ | 2 | $ | (2 | ) |
(1) | Included in receivables – other. |
(2) | Included in accounts payable and accrued expenses – other. |
Number of Shares | Weighted-Average Exercise Price Per Share | Weighted-Average Remaining Contractual Life (In Years) | Aggregate Intrinsic Value | ||||||||||
Outstanding as of September 1, 2016 | 42 | $ | 16.37 | ||||||||||
Granted | 8 | 19.61 | |||||||||||
Exercised | (14 | ) | 10.17 | ||||||||||
Canceled or expired | (3 | ) | 22.55 | ||||||||||
Outstanding as of August 31, 2017 | 33 | 19.32 | 4.4 | $ | 438 | ||||||||
Exercisable as of August 31, 2017 | 17 | $ | 17.44 | 2.7 | $ | 255 | |||||||
Unvested as of August 31, 2017 | 16 | 21.25 | 6.2 | 183 |
For the year ended | 2017 | 2016 | 2015 | |||||||||
Stock options granted | 8 | 8 | 8 | |||||||||
Weighted-average grant-date fair value per share | $ | 8.68 | $ | 6.94 | $ | 14.79 | ||||||
Average expected life in years | 5.5 | 5.5 | 5.6 | |||||||||
Weighted-average expected volatility | 46 | % | 47 | % | 45 | % | ||||||
Weighted-average risk-free interest rate | 1.8 | % | 1.7 | % | 1.7 | % |
Number of Shares | Weighted-Average Grant Date Fair Value Per Share | ||||||
Outstanding as of September 1, 2016 | 18 | $ | 20.24 | ||||
Granted | 8 | 18.77 | |||||
Restrictions lapsed | (6 | ) | 19.53 | ||||
Canceled | (1 | ) | 20.59 | ||||
Outstanding as of August 31, 2017 | 19 | 19.78 |
For the year ended | 2017 | 2016 | 2015 | |||||||||
Restricted stock award shares granted | 8 | 10 | 7 | |||||||||
Weighted-average grant-date fair value per share | $ | 18.77 | $ | 15.40 | $ | 32.60 | ||||||
Aggregate vesting-date fair value of shares vested | $ | 115 | $ | 71 | $ | 155 |
For the year ended | 2017 | 2016 | 2015 | |||||||||
Stock-based compensation expense by caption | ||||||||||||
Cost of goods sold | $ | 88 | $ | 76 | $ | 64 | ||||||
Selling, general, and administrative | 75 | 66 | 61 | |||||||||
Research and development | 52 | 49 | 42 | |||||||||
Other | — | — | 1 | |||||||||
$ | 215 | $ | 191 | $ | 168 | |||||||
Stock-based compensation expense by type of award | ||||||||||||
Stock options | $ | 71 | $ | 79 | $ | 81 | ||||||
Restricted stock awards | 144 | 112 | 87 | |||||||||
$ | 215 | $ | 191 | $ | 168 |
For the year ended | 2017 | 2016 | 2015 | |||||||||
(Gain) loss on disposition of property, plant, and equipment | $ | (22 | ) | $ | (4 | ) | $ | (17 | ) | |||
Other | 5 | (2 | ) | (28 | ) | |||||||
$ | (17 | ) | $ | (6 | ) | $ | (45 | ) |
For the year ended | 2017 | 2016 | 2015 | |||||||||
Loss on debt repurchases and conversions | $ | (100 | ) | $ | (4 | ) | $ | (49 | ) | |||
Loss from changes in currency exchange rates | (74 | ) | (24 | ) | (27 | ) | ||||||
Gain on remeasurement of previously-held equity interest in Inotera | 71 | — | — | |||||||||
Other | (9 | ) | (26 | ) | 23 | |||||||
$ | (112 | ) | $ | (54 | ) | $ | (53 | ) |
For the year ended | 2017 | 2016 | 2015 | |||||||||
Income (loss) before income taxes, net income (loss) attributable to noncontrolling interests, and equity in net income (loss) of equity method investees | ||||||||||||
Foreign | $ | 5,252 | $ | (353 | ) | $ | 2,431 | |||||
U.S. | (56 | ) | 72 | 178 | ||||||||
$ | 5,196 | $ | (281 | ) | $ | 2,609 | ||||||
Income tax (provision) benefit | ||||||||||||
Current | ||||||||||||
Foreign | $ | (152 | ) | $ | (27 | ) | $ | (93 | ) | |||
State | (1 | ) | (1 | ) | (1 | ) | ||||||
U.S. federal | — | — | 6 | |||||||||
(153 | ) | (28 | ) | (88 | ) | |||||||
Deferred | ||||||||||||
Foreign | 39 | (32 | ) | (85 | ) | |||||||
State | — | 2 | 1 | |||||||||
U.S. federal | — | 39 | 15 | |||||||||
Income tax (provision) benefit | $ | (114 | ) | $ | (19 | ) | $ | (157 | ) |
For the year ended | 2017 | 2016 | 2015 | |||||||||
U.S. federal income tax (provision) benefit at statutory rate | $ | (1,819 | ) | $ | 98 | $ | (913 | ) | ||||
Foreign tax rate differential | 1,571 | (300 | ) | 515 | ||||||||
Change in valuation allowance | 64 | 63 | 260 | |||||||||
Change in unrecognized tax benefits | 12 | 52 | (118 | ) | ||||||||
Tax credits | 66 | 48 | 53 | |||||||||
Noncontrolling investment transactions | — | — | 57 | |||||||||
Other | (8 | ) | 20 | (11 | ) | |||||||
Income tax (provision) benefit | $ | (114 | ) | $ | (19 | ) | $ | (157 | ) |
As of | 2017 | 2016 | ||||||
Deferred tax assets | ||||||||
Net operating loss and tax credit carryforwards | $ | 3,426 | $ | 3,014 | ||||
Accrued salaries, wages, and benefits | 211 | 142 | ||||||
Other accrued liabilities | 59 | 76 | ||||||
Other | 86 | 65 | ||||||
Gross deferred tax assets | 3,782 | 3,297 | ||||||
Less valuation allowance | (2,321 | ) | (2,107 | ) | ||||
Deferred tax assets, net of valuation allowance | 1,461 | 1,190 | ||||||
Deferred tax liabilities | ||||||||
Debt discount | (145 | ) | (170 | ) | ||||
Property, plant, and equipment | (300 | ) | (135 | ) | ||||
Unremitted earnings on certain subsidiaries | (123 | ) | (121 | ) | ||||
Product and process technology | (85 | ) | (81 | ) | ||||
Other | (59 | ) | (28 | ) | ||||
Deferred tax liabilities | (712 | ) | (535 | ) | ||||
Net deferred tax assets | $ | 749 | $ | 655 | ||||
Reported as | ||||||||
Deferred tax assets | $ | 766 | $ | 657 | ||||
Deferred tax liabilities (included in other noncurrent liabilities) | (17 | ) | (2 | ) | ||||
Net deferred tax assets | $ | 749 | $ | 655 |
Year of Expiration | U.S. Federal | State | Japan | Taiwan | Other Foreign | Total | ||||||||||||||||||
2018 - 2022 | $ | — | $ | 27 | $ | 3,485 | $ | 473 | $ | 680 | $ | 4,665 | ||||||||||||
2023 - 2027 | — | 330 | 587 | 685 | 6 | 1,608 | ||||||||||||||||||
2028 - 2032 | 3,027 | 1,277 | — | — | — | 4,304 | ||||||||||||||||||
2033 - 2037 | 852 | 320 | — | — | — | 1,172 | ||||||||||||||||||
Indefinite | — | — | — | 342 | 45 | 387 | ||||||||||||||||||
$ | 3,879 | $ | 1,954 | $ | 4,072 | $ | 1,500 | $ | 731 | $ | 12,136 |
Year of Tax Credit Expiration | U.S. Federal | State | Total | |||||||||
2018 - 2022 | $ | 48 | $ | 62 | $ | 110 | ||||||
2023 - 2027 | 99 | 37 | 136 | |||||||||
2028 - 2032 | 64 | 76 | 140 | |||||||||
2033 - 2037 | 205 | 1 | 206 | |||||||||
Indefinite | — | 57 | 57 | |||||||||
$ | 416 | $ | 233 | $ | 649 |
For the year ended | 2017 | 2016 | 2015 | |||||||||
Beginning unrecognized tax benefits | $ | 304 | $ | 351 | $ | 228 | ||||||
Increases due to the Inotera Acquisition | 54 | — | — | |||||||||
Increases related to tax positions taken in current year | 15 | 5 | 119 | |||||||||
Foreign currency translation increases (decreases) to tax positions | 2 | — | (6 | ) | ||||||||
Settlements with tax authorities | (47 | ) | (47 | ) | (1 | ) | ||||||
Expiration of statute of limitations | (1 | ) | (5 | ) | (6 | ) | ||||||
Increases related to tax positions from prior years | — | — | 17 | |||||||||
Ending unrecognized tax benefits | $ | 327 | $ | 304 | $ | 351 |
For the year ended | 2017 | 2016 | 2015 | |||||||||
Net income (loss) attributable to Micron – Basic | $ | 5,089 | $ | (276 | ) | $ | 2,899 | |||||
Dilutive effect related to equity method investment | — | — | (3 | ) | ||||||||
Net income (loss) attributable to Micron – Diluted | $ | 5,089 | $ | (276 | ) | $ | 2,896 | |||||
Weighted-average common shares outstanding – Basic | 1,089 | 1,036 | 1,070 | |||||||||
Dilutive effect of equity plans and convertible notes | 65 | — | 100 | |||||||||
Weighted-average common shares outstanding – Diluted | 1,154 | 1,036 | 1,170 | |||||||||
Earnings (loss) per share | ||||||||||||
Basic | $ | 4.67 | $ | (0.27 | ) | $ | 2.71 | |||||
Diluted | 4.41 | (0.27 | ) | 2.47 |
For the year ended | 2017 | 2016 | 2015 | ||||||
Equity plans | 21 | 60 | 18 | ||||||
Convertible notes | 26 | 119 | 18 |
For the year ended | 2017 | 2016 | 2015 | |||||||||
Net sales | ||||||||||||
CNBU | $ | 8,624 | $ | 4,529 | $ | 6,725 | ||||||
SBU | 4,514 | 3,262 | 3,687 | |||||||||
MBU | 4,424 | 2,569 | 3,692 | |||||||||
EBU | 2,695 | 1,939 | 1,999 | |||||||||
All Other | 65 | 100 | 89 | |||||||||
$ | 20,322 | $ | 12,399 | $ | 16,192 | |||||||
Operating income (loss) | ||||||||||||
CNBU | $ | 3,755 | $ | (25 | ) | $ | 1,549 | |||||
SBU | 552 | (123 | ) | (39 | ) | |||||||
MBU | 927 | 97 | 1,166 | |||||||||
EBU | 975 | 473 | 459 | |||||||||
All Other | 23 | 28 | 44 | |||||||||
$ | 6,232 | $ | 450 | $ | 3,179 | |||||||
Unallocated | ||||||||||||
Stock-based compensation | $ | (215 | ) | $ | (191 | ) | $ | (167 | ) | |||
Restructure and asset impairments | (18 | ) | (67 | ) | (3 | ) | ||||||
Flow-through of Inotera inventory step up | (107 | ) | — | — | ||||||||
Other | (24 | ) | (24 | ) | (11 | ) | ||||||
$ | (364 | ) | $ | (282 | ) | $ | (181 | ) | ||||
Operating income | $ | 5,868 | $ | 168 | $ | 2,998 |
For the year ended | 2017 | 2016 | 2015 | |||||||||
CNBU | $ | 1,344 | $ | 1,141 | $ | 1,053 | ||||||
SBU | 1,083 | 844 | 761 | |||||||||
MBU | 926 | 580 | 512 | |||||||||
EBU | 484 | 379 | 321 | |||||||||
All Other | 13 | 20 | 9 | |||||||||
Unallocated | 11 | 16 | 11 | |||||||||
$ | 3,861 | $ | 2,980 | $ | 2,667 |
For the year ended | 2017 | 2016 | 2015 | |||||||||
DRAM | $ | 12,963 | $ | 7,207 | $ | 10,339 | ||||||
Trade NAND | 6,228 | 4,138 | 4,811 | |||||||||
Non-Trade | 553 | 501 | 463 | |||||||||
Other | 578 | 553 | 579 | |||||||||
$ | 20,322 | $ | 12,399 | $ | 16,192 |
For the year ended | 2017 | 2016 | 2015 | ||||||
Compute and graphics | 20 | % | 20 | % | 25 | % | |||
Mobile | 20 | % | 20 | % | 25 | % | |||
SSDs and other storage | 20 | % | 20 | % | 20 | % | |||
Automotive, industrial, medical, and other embedded | 15 | % | 15 | % | 10 | % | |||
Server | 15 | % | 10 | % | 15 | % |
For the year ended | 2017 | 2016 | 2015 | |||||||||
China | $ | 10,388 | $ | 5,301 | $ | 6,658 | ||||||
United States | 2,763 | 1,925 | 2,565 | |||||||||
Taiwan | 2,544 | 1,521 | 2,241 | |||||||||
Asia Pacific (excluding China and Japan) | 1,808 | 1,610 | 2,037 | |||||||||
Europe | 1,360 | 937 | 1,248 | |||||||||
Japan | 1,025 | 831 | 1,026 | |||||||||
Other | 434 | 274 | 417 | |||||||||
$ | 20,322 | $ | 12,399 | $ | 16,192 |
As of | 2017 | 2016 | ||||||
Taiwan | $ | 6,519 | $ | 2,081 | ||||
Singapore | 5,261 | 5,442 | ||||||
United States | 4,253 | 3,890 | ||||||
Japan | 2,827 | 2,685 | ||||||
China | 453 | 491 | ||||||
Other | 118 | 97 | ||||||
$ | 19,431 | $ | 14,686 |
2017 | Fourth Quarter | Third Quarter | Second Quarter | First Quarter | ||||||||||||
Net sales | $ | 6,138 | $ | 5,566 | $ | 4,648 | $ | 3,970 | ||||||||
Gross margin | 3,112 | 2,609 | 1,704 | 1,011 | ||||||||||||
Operating income | 2,502 | 1,963 | 1,044 | 359 | ||||||||||||
Net income | 2,369 | 1,647 | 894 | 180 | ||||||||||||
Net income attributable to Micron | 2,368 | 1,647 | 894 | 180 | ||||||||||||
Earnings per share | ||||||||||||||||
Basic | $ | 2.13 | $ | 1.49 | $ | 0.81 | $ | 0.17 | ||||||||
Diluted | 1.99 | 1.40 | 0.77 | 0.16 |
2016 | Fourth Quarter | Third Quarter | Second Quarter | First Quarter | ||||||||||||
Net sales | $ | 3,217 | $ | 2,898 | $ | 2,934 | $ | 3,350 | ||||||||
Gross margin | 579 | 498 | 579 | 849 | ||||||||||||
Operating income (loss) | (32 | ) | (27 | ) | (5 | ) | 232 | |||||||||
Net income (loss) | (170 | ) | (215 | ) | (96 | ) | 206 | |||||||||
Net income (loss) attributable to Micron | (170 | ) | (215 | ) | (97 | ) | 206 | |||||||||
Earnings (loss) per share | ||||||||||||||||
Basic | $ | (0.16 | ) | $ | (0.21 | ) | $ | (0.09 | ) | $ | 0.20 | |||||
Diluted | (0.16 | ) | (0.21 | ) | (0.09 | ) | 0.19 |
1. | Financial Statements: See Index to Consolidated Financial Statements under Item 8. | |
2. | Financial Statement Schedules: Schedule I – Condensed Financial Information of the Registrant Schedule II – Valuation and Qualifying Accounts Certain Financial Statement Schedules have been omitted since they are either not required, not applicable, or the information is otherwise included. | |
3. | Exhibits. |
For the year ended | August 31, 2017 | September 1, 2016 | September 3, 2015 | |||||||||
Net sales | $ | 5,652 | $ | 5,529 | $ | 5,547 | ||||||
Costs and expenses | ||||||||||||
Cost of goods sold | 3,478 | 3,625 | 3,329 | |||||||||
Selling, general, and administrative | 331 | 266 | 299 | |||||||||
Research and development | 1,551 | 1,500 | 1,483 | |||||||||
Other operating (income) expense, net | — | 26 | (12 | ) | ||||||||
Total costs and expenses | 5,360 | 5,417 | 5,099 | |||||||||
Operating income | 292 | 112 | 448 | |||||||||
Interest income (expense), net | (366 | ) | (348 | ) | (273 | ) | ||||||
Other non-operating income (expense), net | (69 | ) | 182 | (85 | ) | |||||||
(143 | ) | (54 | ) | 90 | ||||||||
Income tax (provision) benefit | 22 | 10 | 38 | |||||||||
Equity in earnings (loss) of subsidiaries | 5,210 | (224 | ) | 2,773 | ||||||||
Equity in net loss of equity method investees | — | (8 | ) | (2 | ) | |||||||
Net income (loss) attributable to Micron | 5,089 | (276 | ) | 2,899 | ||||||||
Other comprehensive income (loss) | 64 | (48 | ) | (43 | ) | |||||||
Comprehensive income (loss) attributable to Micron | $ | 5,153 | $ | (324 | ) | $ | 2,856 |
As of | August 31, 2017 | September 1, 2016 | ||||||
Assets | ||||||||
Cash and equivalents | $ | 2,197 | $ | 2,716 | ||||
Short-term investments | 319 | 258 | ||||||
Receivables | 112 | 102 | ||||||
Notes and accounts receivable from subsidiaries | 1,470 | 1,159 | ||||||
Finished goods | 47 | 49 | ||||||
Work in process | 215 | 244 | ||||||
Raw materials and supplies | 89 | 91 | ||||||
Other current assets | 42 | 54 | ||||||
Total current assets | 4,491 | 4,673 | ||||||
Investment in subsidiaries | 18,169 | 12,897 | ||||||
Long-term marketable investments | 617 | 414 | ||||||
Noncurrent notes receivable from and prepaid expenses to subsidiaries | 616 | 709 | ||||||
Property, plant, and equipment, net | 2,330 | 2,026 | ||||||
Other noncurrent assets | 335 | 412 | ||||||
Total assets | $ | 26,558 | $ | 21,131 | ||||
Liabilities and equity | ||||||||
Accounts payable and accrued expenses | $ | 929 | $ | 916 | ||||
Short-term debt and accounts payable to subsidiaries | 700 | 314 | ||||||
Current debt | 530 | 75 | ||||||
Other current liabilities | 9 | 16 | ||||||
Total current liabilities | 2,168 | 1,321 | ||||||
Long-term debt | 5,320 | 7,313 | ||||||
Other noncurrent liabilities | 428 | 417 | ||||||
Total liabilities | 7,916 | 9,051 | ||||||
Commitments and contingencies | ||||||||
Redeemable convertible notes | 21 | — | ||||||
Micron shareholders' equity | ||||||||
Common stock, $0.10 par value, 3,000 shares authorized, 1,116 shares issued and 1,112 outstanding (1,094 issued and 1,040 outstanding as of September 1, 2016) | 112 | 109 | ||||||
Other equity | 18,509 | 11,971 | ||||||
Total Micron shareholders' equity | 18,621 | 12,080 | ||||||
Total liabilities and equity | $ | 26,558 | $ | 21,131 |
For the year ended | August 31, 2017 | September 1, 2016 | September 3, 2015 | |||||||||
Net cash provided by operating activities | $ | 1,073 | $ | 836 | $ | 995 | ||||||
Cash flows from investing activities | ||||||||||||
Purchases of available-for-sale securities | (1,239 | ) | (859 | ) | (1,799 | ) | ||||||
Expenditures for property, plant, and equipment | (694 | ) | (651 | ) | (609 | ) | ||||||
Payments to settle hedging activities | (279 | ) | (155 | ) | (135 | ) | ||||||
Cash contributions to subsidiaries | (2 | ) | (111 | ) | (151 | ) | ||||||
Cash paid for acquisitions | — | (216 | ) | (57 | ) | |||||||
Proceeds from sales of available-for-sale securities | 776 | 1,015 | 1,045 | |||||||||
Proceeds from settlement of hedging activities | 195 | 337 | 78 | |||||||||
Proceeds from maturities of available-for-sale securities | 194 | 582 | 536 | |||||||||
(Payments) proceeds on loans to subsidiaries, net | 54 | (550 | ) | 65 | ||||||||
Cash distributions from subsidiaries | 33 | 47 | 33 | |||||||||
Other | 7 | 72 | (7 | ) | ||||||||
Net cash provided by (used for) investing activities | (955 | ) | (489 | ) | (1,001 | ) | ||||||
Cash flows from financing activities | ||||||||||||
Repayments of debt | (1,711 | ) | (332 | ) | (1,645 | ) | ||||||
Payments of licensing obligations | (83 | ) | (83 | ) | (82 | ) | ||||||
Cash paid to acquire treasury stock | (35 | ) | (148 | ) | (884 | ) | ||||||
Proceeds from issuance of stock to Nanya | 986 | — | — | |||||||||
Proceeds from issuance of stock under equity plans | 142 | 48 | 74 | |||||||||
Proceeds from settlement of capped calls | 125 | — | — | |||||||||
Proceeds from issuance of debt | — | 1,993 | 2,050 | |||||||||
Proceeds from equipment sale-leaseback transactions | — | 216 | — | |||||||||
Other | (69 | ) | (46 | ) | (36 | ) | ||||||
Net cash provided by (used for) financing activities | (645 | ) | 1,648 | (523 | ) | |||||||
Effect of changes in currency exchange rates on cash, cash equivalents, and restricted cash | 8 | — | — | |||||||||
Net increase (decrease) in cash, cash equivalents, and restricted cash | (519 | ) | 1,995 | (529 | ) | |||||||
Cash, cash equivalents, and restricted cash at beginning of period | 2,716 | 721 | 1,250 | |||||||||
Cash, cash equivalents, and restricted cash at end of period | $ | 2,197 | $ | 2,716 | $ | 721 |
2017 | 2016 | |||||||||||||||||||||||||||||
Instrument | Stated Rate | Effective Rate | Current | Long-Term | Total | Current | Long-Term | Total | ||||||||||||||||||||||
Capital lease obligations | N/A | 3.34 | % | $ | 45 | $ | 126 | $ | 171 | $ | 70 | $ | 171 | $ | 241 | |||||||||||||||
2022 Notes | 5.88 | % | 6.14 | % | — | — | — | — | 590 | 590 | ||||||||||||||||||||
2022 Term Loan B | 3.80 | % | 4.22 | % | 5 | 725 | 730 | 5 | 730 | 735 | ||||||||||||||||||||
2023 Notes | 5.25 | % | 5.43 | % | — | 991 | 991 | — | 990 | 990 | ||||||||||||||||||||
2023 Secured Notes | 7.50 | % | 7.69 | % | — | 1,238 | 1,238 | — | 1,237 | 1,237 | ||||||||||||||||||||
2024 Notes | 5.25 | % | 5.38 | % | — | 546 | 546 | — | 546 | 546 | ||||||||||||||||||||
2025 Notes | 5.50 | % | 5.56 | % | — | 515 | 515 | — | 1,139 | 1,139 | ||||||||||||||||||||
2026 Notes | 5.63 | % | 5.73 | % | — | 128 | 128 | — | 446 | 446 | ||||||||||||||||||||
2032C Notes(1) | 2.38 | % | 5.95 | % | — | 211 | 211 | — | 204 | 204 | ||||||||||||||||||||
2032D Notes(1) | 3.13 | % | 6.33 | % | — | 159 | 159 | — | 154 | 154 | ||||||||||||||||||||
2033E Notes(1)(2) | 1.63 | % | 4.50 | % | 202 | — | 202 | — | 168 | 168 | ||||||||||||||||||||
2033F Notes(1) | 2.13 | % | 4.93 | % | 278 | — | 278 | — | 271 | 271 | ||||||||||||||||||||
2043G Notes(3) | 3.00 | % | 6.76 | % | — | 671 | 671 | — | 657 | 657 | ||||||||||||||||||||
Other notes | 1.65 | % | 1.65 | % | — | 10 | 10 | — | 10 | 10 | ||||||||||||||||||||
$ | 530 | $ | 5,320 | $ | 5,850 | $ | 75 | $ | 7,313 | $ | 7,388 |
(1) | Since the closing price of Micron's common stock exceeded 130% of the conversion price per share for at least 20 trading days in the 30 trading-day period ended on June 30, 2017, these notes are convertible by the holders through the calendar quarter ended September 30, 2017. The closing price of Micron's common stock also exceeded the thresholds for the calendar quarter ended September 30, 2017; therefore, these notes are convertible by the holders through December 31, 2017. The 2033 Notes were classified as current as of August 31, 2017 because the terms of these notes require us to pay cash for the principal amount of any converted notes and holders of these notes had the right to convert their notes as of that date. |
(2) | The net carrying amount for 2017 included $31 million of derivative debt liabilities recognized as a result of our election to settle entirely in cash converted notes with an aggregate principal amount of $16 million. See "Convertible Senior Notes" below. |
(3) | The 2043G Notes have an original principal amount of $820 million that accretes up to $917 million through the expected term in November 2028 and $1.03 billion at maturity in 2043. |
Notes Payable | Capital Lease Obligations | |||||||
2018 | $ | 211 | $ | 51 | ||||
2019 | 231 | 44 | ||||||
2020 | 305 | 56 | ||||||
2021 | 195 | 32 | ||||||
2022 | 713 | — | ||||||
2023 and thereafter | 4,365 | — | ||||||
Unamortized discounts and interest, respectively | (341 | ) | (12 | ) | ||||
$ | 5,679 | $ | 171 |
Balance at Beginning of Year | Business Acquisitions | Charged (Credited) to Income Tax Provision | Currency Translation and Charges to Other Accounts | Balance at End of Year | |||||||||||||||
Deferred Tax Asset Valuation Allowance | |||||||||||||||||||
Year ended August 31, 2017 | $ | 2,107 | $ | — | $ | (64 | ) | $ | 278 | $ | 2,321 | ||||||||
Year ended September 1, 2016 | 2,051 | 10 | (63 | ) | 109 | 2,107 | |||||||||||||
Year ended September 3, 2015 | 2,443 | — | (260 | ) | (132 | ) | 2,051 |
Exhibit Number | Description of Exhibit | Filed Herewith | Form | Period Ending | Exhibit/ Appendix | Filing Date |
2.1* | 8-K/A | 2.1 | 10/31/12 | |||
2.2* | 8-K | 2.3 | 10/29/12 | |||
2.3* | 8-K | 2.4 | 8/6/13 | |||
2.4 | 8-K | 2.5 | 8/6/13 | |||
2.5 | 10-Q | 3/3/16 | 2.6 | 4/8/16 | ||
3.1 | 8-K | 99.2 | 1/26/15 | |||
3.2 | 8-K | 99.1 | 4/15/14 | |||
4.1 | 8-K | 4.1 | 4/18/12 | |||
4.2 | 8-K | 4.3 | 4/18/12 | |||
4.3 | 8-K | 4.3 | 4/18/12 | |||
4.4 | 8-K | 4.3 | 4/18/12 | |||
4.5 | 8-K | 4.3 | 7/26/11 | |||
4.6 | 8-K | 4.1 | 2/12/13 | |||
4.7 | 8-K | 4.3 | 2/12/13 | |||
4.8 | 8-K | 4.1 | 2/12/13 | |||
4.9 | 8-K | 4.3 | 2/12/13 | |||
4.10 | 8-K | 4.1 | 11/18/13 | |||
4.11 | 8-K | 4.1 | 11/18/13 | |||
4.12 | 10-Q | 2/27/14 | 4.3 | 4/7/14 | ||
4.13 | 8-K | 4.1 | 2/12/14 | |||
4.14 | 8-K | 4.1 | 2/12/14 |
Exhibit Number | Description of Exhibit | Filed Herewith | Form | Period Ending | Exhibit/ Appendix | Filing Date |
4.15 | 8-K | 4.1 | 7/29/14 | |||
4.16 | 8-K | 4.1 | 7/29/14 | |||
4.17 | 8-K | 4.1 | 4/30/15 | |||
4.18 | 8-K | 4.2 | 4/30/15 | |||
4.19 | 8-K | 4.1 | 4/30/15 | |||
4.20 | 8-K | 4.2 | 4/30/15 | |||
4.21 | 8-K | 4.1 | 2/3/15 | |||
4.22 | 8-K | 4.1 | 2/3/15 | |||
4.23 | 8-K | 4.1 | 4/26/16 | |||
4.24 | 8-K | 4.1 | 4/26/16 | |||
4.25 | 8-K | 4.1 | 7/20/16 | |||
10.1 | DEF 14A | C | 12/12/14 | |||
10.2 | 10-K | 8/30/12 | 10.5 | 10/29/12 | ||
10.3 | 10-K | 8/30/12 | 10.7 | 10/29/12 | ||
10.4 | 10-K | 8/30/12 | 10.8 | 10/29/12 | ||
10.5 | 8-K | 99.2 | 4/6/05 | |||
10.6 | 10-K | 9/1/16 | 10.6 | 10/28/16 | ||
10.7 | 10-K | 9/1/16 | 10.7 | 10/28/16 | ||
10.8 | 10-K | 9/1/16 | 10.8 | 10/28/16 | ||
10.9 | 10-K | 9/1/16 | 10.9 | 10/28/16 | ||
10.10 | 10-K | 9/1/16 | 10.10 | 10/28/16 | ||
10.11 | 10-K | 9/1/16 | 10.11 | 10/28/16 | ||
10.12 | S-8 | 4.1 | 6/16/10 | |||
10.13 | S-8 | 4.2 | 6/16/10 | |||
10.14* | 10-Q | 11/30/06 | 10.66 | 1/16/07 | ||
10.15 | 10-Q | 2/27/14 | 10.3 | 4/7/14 | ||
10.16* | 10-Q | 12/1/05 | 10.155 | 1/10/06 | ||
10.17* | 10-Q | 12/1/05 | 10.163 | 1/10/06 | ||
10.18 | 8-K | 99.2 | 11/1/07 |
Exhibit Number | Description of Exhibit | Filed Herewith | Form | Period Ending | Exhibit/ Appendix | Filing Date |
10.19 | 10-Q | 12/4/08 | 10.70 | 1/13/09 | ||
10.20* | 10-Q | 3/1/12 | 10.104 | 4/9/12 | ||
10.21* | 10-Q | 5/31/12 | 10.108 | 7/9/12 | ||
10.22* | 10-Q | 5/31/12 | 10.109 | 7/9/12 | ||
10.23* | 10-Q | 5/31/12 | 10.110 | 7/9/12 | ||
10.24* | 10-Q | 5/31/12 | 10.111 | 7/9/12 | ||
10.25* | 10-Q | 5/31/12 | 10.112 | 7/9/12 | ||
10.26* | 10-Q | 5/31/12 | 10.113 | 7/9/12 | ||
10.27 | 8-K | 10.1 | 4/18/12 | |||
10.28* | 10-Q | 2/28/13 | 10.122 | 4/8/13 | ||
10.29* | 10-Q | 2/28/13 | 10.123 | 4/8/13 | ||
10.30* | 10-Q | 2/28/13 | 10.124 | 4/8/13 | ||
10.31 | 10-Q | 2/28/13 | 10.125 | 4/8/13 | ||
10.32* | 10-Q/A | 2/28/13 | 10.126 | 8/7/13 | ||
10.33* | 10-Q | 2/28/13 | 10.127 | 4/8/13 | ||
10.34* | 10-Q/A | 2/28/13 | 10.128 | 8/7/13 | ||
10.35* | 10-Q | 2/28/13 | 10.129 | 4/8/13 | ||
10.36* | 10-Q | 2/28/13 | 10.130 | 4/8/13 |
Exhibit Number | Description of Exhibit | Filed Herewith | Form | Period Ending | Exhibit/ Appendix | Filing Date |
10.37* | 8-K/A | 10.139 | 10/2/13 | |||
10.38* | 8-K | 10.140 | 8/6/13 | |||
10.39* | 8-K/A | 10.141 | 10/2/13 | |||
10.40 | 8-K | 10.1 | 2/12/13 | |||
10.41 | 8-K | 10.1 | 2/7/14 | |||
10.42 | 8-K | 10.1 | 2/12/14 | |||
10.43 | 8-K | 10.1 | 7/24/14 | |||
10.44 | 8-K | 10.1 | 7/29/14 | |||
10.45 | 8-K | 99.1 | 12/8/14 | |||
10.46 | 10-Q | 3/5/15 | 10.88 | 4/10/15 | ||
10.47* | 10-Q | 3/5/15 | 10.90 | 4/10/15 | ||
10.48* | 10-Q | 3/5/15 | 10.91 | 4/10/15 | ||
10.49* | 10-Q | 3/2/17 | 10.49 | 3/28/17 | ||
10.50* | 10-Q | 3/2/17 | 10.50 | 3/28/17 | ||
10.51* | 10-Q | 3/2/17 | 10.51 | 3/28/17 | ||
10.52* | 10-K | 9/3/15 | 10.54 | 10/27/15 |
Exhibit Number | Description of Exhibit | Filed Herewith | Form | Period Ending | Exhibit/ Appendix | Filing Date |
10.53 | 8-K | 10.1 | 4/30/15 | |||
10.54* | 10-Q/A | 3/3/16 | 10.56 | 9/8/16 | ||
10.55* | 10-Q/A | 3/3/16 | 10.57 | 9/8/16 | ||
10.56 | 10-Q | 3/3/16 | 10.58 | 4/8/16 | ||
10.57 | 10-Q | 3/3/16 | 10.59 | 4/8/16 | ||
10.58* | 10-Q | 6/2/16 | 10.60 | 7/6/16 | ||
10.59* | 10-Q | 6/2/16 | 10.61 | 7/6/16 | ||
10.60 | 8-K | 10.1 | 4/26/16 | |||
10.61 | 8-K | 10.2 | 4/26/16 | |||
10.62 | 8-K | 10.3 | 4/26/16 | |||
10.63 | 10-Q | 12/1/16 | 10.63 | 1/9/17 | ||
10.64 | 10-Q | 3/2/17 | 10.64 | 3/28/17 | ||
10.65 | 10-Q | 12/16/16 | 10.65 | 1/9/17 | ||
10.66 | 10-Q | 12/16/16 | 10.66 | 1/9/17 | ||
10.67 | 10-Q | 6/1/17 | 10.67 | 6/30/17 |
Exhibit Number | Description of Exhibit | Filed Herewith | Form | Period Ending | Exhibit/ Appendix | Filing Date |
10.68 | 10-Q | 6/1/17 | 10.68 | 6/30/17 | ||
10.69 | X | |||||
10.70 | X | |||||
10.71 | X | |||||
21.1 | X | |||||
23.1 | X | |||||
31.1 | X | |||||
31.2 | X | |||||
32.1 | X | |||||
32.2 | X | |||||
101.INS | XBRL Instance Document | X | ||||
101.SCH | XBRL Taxonomy Extension Schema Document | X | ||||
101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document | X | ||||
101.DEF | XBRL Taxonomy Extension Definition Linkbase Document | X | ||||
101.LAB | XBRL Taxonomy Extension Label Linkbase Document | X | ||||
101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document | X |
Micron Technology, Inc. | ||
By: | /s/ Ernest E. Maddock | |
Ernest E. Maddock Senior Vice President and Chief Financial Officer | ||
(Principal Financial and Accounting Officer) |
Signature | Title | Date |
/s/ Sanjay Mehrotra | President and | October 26, 2017 |
(Sanjay Mehrotra) | Chief Executive Officer and | |
Director | ||
(Principal Executive Officer) | ||
/s/ Ernest E. Maddock | Senior Vice President and | October 26, 2017 |
(Ernest E. Maddock) | Chief Financial Officer | |
(Principal Financial and | ||
Accounting Officer) | ||
/s/ Robert L. Bailey | Director | October 26, 2017 |
(Robert L. Bailey) | ||
/s/ Richard M. Beyer | Director | October 26, 2017 |
(Richard M. Beyer) | ||
/s/ Patrick J. Byrne | Director | October 26, 2017 |
(Patrick J. Byrne) | ||
/s/ Mercedes Johnson | Director | October 26, 2017 |
(Mercedes Johnson) | ||
/s/ Lawrence N. Mondry | Director | October 26, 2017 |
(Lawrence N. Mondry) | ||
/s/ Robert E. Switz | Chairman of the Board | October 26, 2017 |
(Robert E. Switz) | Director |
SECOND AMENDMENT TO THE SYNDICATED LOAN AGREEMENT |
(1) | Micron Technology Taiwan, Inc. (formerly known as Inotera Memories, Inc.), a company limited by shares organized and existing under the laws of the Republic of China ("ROC" or "Taiwan") , with its registered office at No.667, Fuxing 3rd Rd., Wenhua Vil., Guishan Dist., Taoyuan City 333, Taiwan ("MTTW"); and |
(2) | Bank of Taiwan, Mega International Commercial Bank Co., Ltd., Taiwan Business Bank, Chang Hwa Commercial Bank, Ltd., Land Bank of Taiwan, Taiwan Cooperative Bank, Credit Agricole Corporate and Investment Bank, Taipei Branch, CTBC Bank Co., Ltd., Hua Nan Commercial Bank, Ltd. and Yuanta Commercial Bank, as the mandated lead arrangers (collectively, the "Mandated Lead Arrangers") of this Transaction (as defined below); |
(3) | the banks and financial institutions listed in Schedule 1 to the Existing Agreement (as defined below) (each a "Lender", together the "Lenders"); |
(4) | Bank of Taiwan, the facility agent ("Facility Agent") of this Transaction; |
(5) | Mega International Commercial Bank Co., Ltd., the collateral agent ("Collateral Agent") of this Transaction; |
(6) | Taiwan Business Bank, the document management agent ("Document Management Agent", together with the Facility Agent and the Collateral Agent, the "Agent Banks", each an "Agent Bank") of this Transaction. |
1. | Unless otherwise provided in this Second Amendment, the terms used in the Existing Agreement shall have the same meanings when used herein. Further, pursuant to Article 16 of the Existing Agreement, the proposed amendments specified in Articles 2 to 8 of this Second Amendment shall obtain the Majority Banks' written consent. The Facility Agent has obtained the Majority Banks' written consent and the Lenders have agreed to authorize the Facility Agent and the Collateral Agent to execute this Second Amendment on behalf of the Mandated Lead Arrangers, the Lenders, and the Document Management Agent in accordance with the Lenders' written consent. |
2. | The Co-Borrowers, the Lenders, the Mandated Lead Arrangers and the Agent Banks agree that Section 10.1(4)(a) of the Existing Agreement shall be replaced with the following: |
"(a) | Ensure MST will maintain the following financial ratios and requirement: |
(i) | Leverage ratio (total liabilities/EBITDA): not higher than 5.50x in 2017 and 2018; and not higher than 4.50x through 2019 to 2021. |
(ii) | Tangible net worth (i.e., net worth minus intangible asset): not less than NT$4 billion in 2017 and 2018; not less than NT$6.5 billion in 2019 and 2020; and not less than NT$12 billion from 2021. |
3. | The Co-Borrowers, the Lenders, the Mandated Lead Arrangers and the Agent Banks agree that Section 10.1(4)(b) of the Existing Agreement shall be replaced with the following: |
"(b) | To ensure that MTI will maintain the following financial ratios and requirement: |
(i) | Leverage ratio (total liabilities/EBITDA): not higher than 4.50x in 2016; not higher than 3.50x in 2017; not higher than 3.00x in 2018 and 2019; and not higher than 2.50x in 2020 and 2021. |
(ii) | Tangible net worth (i.e., net worth minus intangible asset): not less than US$9 billion in 2016 and 2017; not less than US$12.5 billion in 2018 and 2019; and not less than US$16.5 billion in 2020 and 2021. |
4. | The Co-Borrowers, the Lenders, the Mandated Lead Arrangers and the Agent Banks agree that the definition of "EBITDA" set forth in Section 10.1(4)(c) of the Existing Agreement shall be replaced with the following: |
5. | The Co-Borrowers, the Lenders, the Mandated Lead Arrangers and the Agent Banks agree that the definition of "Consolidated Income Tax Expense" set forth in Section 10.1(4)(c) of the Existing Agreement shall be replaced with the following: |
6. | The Co-Borrowers, the Lenders, the Mandated Lead Arrangers and the Agent Banks agree that the definition of "Consolidated Income Tax Expense" set forth in Section 10.1(4)(c) of the Existing Agreement shall be replaced with the following: |
7. | The Co-Borrowers, the Lenders, the Mandated Lead Arrangers and the Agent Banks agree that the definition of "Consolidated Net Income" set forth in Section 10.1(4)(c) of the Existing Agreement shall be replaced with the following: |
8. | The Co-Borrowers, the Lenders, the Mandated Lead Arrangers and the Agent Banks agree that the definition of "Consolidated Net Income" in Section 10.1(4)(c) of the Existing Agreement shall be replaced with the following: |
9. | Except as otherwise amended in Articles 2 to 8 of this Second Amendment, other provisions of the Existing Agreement shall remain in full force and effect. This Second Amendment shall take effect when duly executed by the parties hereto and shall be deemed a part of the Existing Agreement provided that in the event of any discrepancy between the provisions of the Existing Agreement or the First Amendment and the provisions of this Second Amendment, the provisions of this Second Amendment shall prevail. |
10. | This Second Amendment shall be governed by the laws of the ROC. Any matter not set forth in this Second Amendment shall be dealt with in accordance with the Existing Agreement or applicable laws and regulations. |
11. | Each party hereto agrees that Taiwan Taipei District Court shall be the court of first instance to settle any disputes arising from this Second Amendment, unless there is special provision of exclusive jurisdiction under the laws. |
12. | This Second Amendment shall be executed in thirty one (31) original copies, and each of the Co-Borrowers, the Lenders and the Agent Banks shall keep one (1) original copy as evidence. |
Co-Borrower | |
Micron Technology Taiwan, Inc. | |
Authorized Signatory: | /s/ Yap Lin Kiat (personal chop and corporate chop) |
Co-Borrower | |
Micron Semiconductor Taiwan Co., Ltd. | |
Authorized Signatory: | /s/ Stephen Ray Drake (personal chop and corporate chop) |
Facility Agent | |
Bank of Taiwan | |
Authorized Signatory: | (corporate chop) |
Collateral Agent | |
Mega International Commercial Bank Co., Ltd. | |
Authorized Signatory: | (corporate chop) |
MICRON TECHNOLOGY, INC. a Delaware corporation | OFFICER | |
/s/ April Arnzen | /s/ Sumit Sadana | |
By: April Arnzen | Name: Sumit Sadana | |
Title: SVP, Human Resources | Title: EVP and Cheif Business Officer | |
June 22, 2017 | June 23, 2017 | |
Date | Date |
/s/ D. Mark Durcan |
Employee |
/s/ April Arnzen |
Micron Technology, Inc. |
Name | State (or Jurisdiction) in which Organized | |
IM Flash Technologies, LLC | Delaware | |
Micron Asia Pacific B.V. | Netherlands | |
Micron Consumer Products Group, Ltd. | Delaware | |
Micron Europe Limited (1) | United Kingdom | |
Micron International B.V. | Netherlands | |
Micron Memory B.V. | Netherlands | |
Micron Memory Finance B.V. | Netherlands | |
Micron Memory Japan, Inc. | Japan | |
Micron Memory Taiwan Co., Ltd. | Taiwan | |
Micron Semiconductor Asia, LLC | Delaware | |
Micron Semiconductor Asia Pte. Ltd.(1) | Singapore | |
Micron Semiconductor B.V. | Netherlands | |
Micron Semiconductor Products, Inc.(1) | Idaho | |
Micron Semiconductor Taiwan Co. | Taiwan | |
Micron Semiconductor (Xi’an) Co., Ltd. | China | |
Micron Technology B.V. | Netherlands | |
Micron Technology Finance B.V. | Netherlands | |
Micron Technology Taiwan, Inc. | Taiwan | |
Numonyx Holdings B.V. | Netherlands | |
(1) Also does business as Micron Consumer Products Group |
1. | I have reviewed this Annual Report on Form 10-K of Micron Technology, Inc.; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a. | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b. | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c. | Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d. | Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and |
5. | The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): |
a. | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and |
b. | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. |
Date: | October 26, 2017 | /s/ Sanjay Mehrotra |
Sanjay Mehrotra President and Chief Executive Officer and Director |
1. | I have reviewed this Annual Report on Form 10-K of Micron Technology, Inc.; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a. | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b. | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c. | Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d. | Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and |
5. | The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): |
a. | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and |
b. | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. |
Date: | October 26, 2017 | /s/ Ernest E. Maddock |
Ernest E. Maddock Senior Vice President and Chief Financial Officer |
Date: | October 26, 2017 | /s/ Sanjay Mehrotra |
Sanjay Mehrotra President and Chief Executive Officer and Director |
Date: | October 26, 2017 | /s/ Ernest E. Maddock |
Ernest E. Maddock Senior Vice President and Chief Financial Officer |
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Document and Entity Information Document - USD ($) |
12 Months Ended | ||
---|---|---|---|
Aug. 31, 2017 |
Oct. 20, 2017 |
Mar. 02, 2017 |
|
Document and Entity Information [Abstract] | |||
Entity Registrant Name | MICRON TECHNOLOGY INC | ||
Entity Central Index Key | 0000723125 | ||
Current Fiscal Year End Date | --08-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Aug. 31, 2017 | ||
Document Fiscal Year Focus | 2017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Common Stock, Shares Outstanding | 1,153,255,224 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 20,500,000,000 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Statement of Comprehensive Income [Abstract] | |||
Net income (loss) | $ 5,090 | $ (275) | $ 2,899 |
Other comprehensive income (loss), net of tax | |||
Foreign currency translation adjustments | 48 | (49) | (42) |
Gain (loss) on derivatives, net | 15 | 7 | (18) |
Pension liability adjustments | 1 | (9) | 20 |
Gain (loss) on investments, net | 0 | 3 | (4) |
Other comprehensive income (loss) | 64 | (48) | (44) |
Total comprehensive income (loss) | 5,154 | (323) | 2,855 |
Comprehensive (income) loss attributable to noncontrolling interests | (1) | (1) | 1 |
Comprehensive income (loss) attributable to Micron | $ 5,153 | $ (324) | $ 2,856 |
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions |
Aug. 31, 2017 |
Sep. 01, 2016 |
---|---|---|
Liabilities and equity | ||
Common stock, par value (in dollars per share) | $ 0.10 | $ 0.10 |
Common Stock, authorized shares (in shares) | 3,000 | 3,000 |
Common Stock, issued (in shares) | 1,116 | 1,094 |
Common Stock, outstanding (in shares) | 1,112 | 1,040 |
Treasury Stock, held (in shares) | 4 | 54 |
STATEMENT OF CHANGES IN EQUITY - USD ($) shares in Millions, $ in Millions |
Total |
Common Stock |
Additional Capital |
Retained Earnings |
Treasury Stock |
Accumulated Other Comprehensive Income (Loss) |
Total Micron Shareholders' Equity |
Noncontrolling Interests in Subsidiaries |
---|---|---|---|---|---|---|---|---|
Balance (in shares) at Aug. 28, 2014 | 1,073 | |||||||
Balance at Aug. 28, 2014 | $ 11,562 | $ 107 | $ 7,868 | $ 2,729 | $ 0 | $ 56 | $ 10,760 | $ 802 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income (loss) | 2,899 | 2,899 | 2,899 | 0 | ||||
Other comprehensive income (loss), net | (44) | (43) | (43) | (1) | ||||
Stock issued under stock plans (in shares) | 13 | |||||||
Stock issued under stock plans | 74 | $ 1 | 73 | 74 | ||||
Stock-based compensation expense | 168 | 168 | 168 | |||||
Contributions from noncontrolling interests | 142 | 0 | 142 | |||||
Distributions to noncontrolling interests | (6) | 0 | (6) | |||||
Repurchase and retirement of stock (in shares) | (2) | |||||||
Repurchase and retirement of stock | (53) | $ 0 | (13) | (40) | (53) | |||
Repurchase of treasury stock | (831) | (831) | (831) | |||||
Settlement of capped calls | 0 | 50 | 0 | |||||
Settlement of capped calls, fair value of shares received | (50) | |||||||
Reclassification of redeemable convertible notes, net | 19 | 19 | 19 | |||||
Conversion and repurchase of convertible notes | (691) | (691) | (691) | |||||
Balance (in shares) at Sep. 03, 2015 | 1,084 | |||||||
Balance at Sep. 03, 2015 | 13,239 | $ 108 | 7,474 | 5,588 | (881) | 13 | 12,302 | 937 |
Balance (in shares) at Aug. 28, 2014 | 1,073 | |||||||
Balance at Aug. 28, 2014 | $ 11,562 | $ 107 | 7,868 | 2,729 | 0 | 56 | 10,760 | 802 |
Balance (in shares) at Aug. 31, 2017 | 1,116 | 1,116 | ||||||
Balance at Aug. 31, 2017 | $ 19,470 | $ 112 | 8,287 | 10,260 | (67) | 29 | 18,621 | 849 |
Balance (in shares) at Sep. 03, 2015 | 1,084 | |||||||
Balance at Sep. 03, 2015 | 13,239 | $ 108 | 7,474 | 5,588 | (881) | 13 | 12,302 | 937 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income (loss) | (275) | (276) | (276) | 1 | ||||
Other comprehensive income (loss), net | (48) | (48) | (48) | 0 | ||||
Stock issued under stock plans (in shares) | 11 | |||||||
Stock issued under stock plans | 48 | $ 1 | 47 | 48 | ||||
Stock-based compensation expense | 191 | 191 | 191 | |||||
Contributions from noncontrolling interests | 37 | 0 | 37 | |||||
Distributions to noncontrolling interests | (34) | 0 | (34) | |||||
Acquisitions of noncontrolling interests | (93) | 0 | (93) | |||||
Repurchase and retirement of stock (in shares) | (1) | |||||||
Repurchase and retirement of stock | (23) | $ 0 | (10) | (13) | (23) | |||
Repurchase of treasury stock | (125) | (125) | (125) | |||||
Settlement of capped calls | 0 | 23 | 0 | |||||
Settlement of capped calls, fair value of shares received | (23) | |||||||
Reclassification of redeemable convertible notes, net | 49 | 49 | 49 | |||||
Conversion and repurchase of convertible notes | $ (38) | (38) | (38) | |||||
Balance (in shares) at Sep. 01, 2016 | 1,094 | 1,094 | ||||||
Balance at Sep. 01, 2016 | $ 12,928 | $ 109 | 7,736 | 5,299 | (1,029) | (35) | 12,080 | 848 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income (loss) | 5,090 | 5,089 | 5,089 | 1 | ||||
Other comprehensive income (loss), net | 64 | 64 | 64 | 0 | ||||
Stock issued under stock plans (in shares) | 20 | |||||||
Stock issued under stock plans | 142 | $ 3 | 139 | 142 | ||||
Stock-based compensation expense | 215 | 217 | (2) | 215 | ||||
Repurchase and retirement of stock (in shares) | (2) | |||||||
Repurchase and retirement of stock | (35) | $ 0 | (13) | (22) | (35) | |||
Stock issued to Nanya for Inotera Acquisition (in shares) | 4 | |||||||
Stock issued to Nanya for Inotera Acquisition | 995 | $ 0 | 70 | 995 | ||||
Treasury stock issued to Nanya for Inotera Acquisition | (104) | 1,029 | ||||||
Settlement of capped calls | 125 | 192 | 125 | |||||
Settlement of capped calls, fair value of shares received | (67) | |||||||
Reclassification of redeemable convertible notes, net | (21) | (21) | (21) | |||||
Conversion and repurchase of convertible notes | $ (33) | (33) | (33) | |||||
Balance (in shares) at Aug. 31, 2017 | 1,116 | 1,116 | ||||||
Balance at Aug. 31, 2017 | $ 19,470 | $ 112 | $ 8,287 | $ 10,260 | $ (67) | $ 29 | $ 18,621 | $ 849 |
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Cash flows from operating activities | |||
Net income (loss) | $ 5,090 | $ (275) | $ 2,899 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities | |||
Depreciation expense and amortization of intangible assets | 3,861 | 2,980 | 2,667 |
Amortization of debt discount and other costs | 125 | 126 | 138 |
Stock-based compensation | 215 | 191 | 168 |
Loss on debt repurchases and conversions | 99 | 4 | 49 |
Gain on remeasurement of previously-held equity interest in Inotera | (71) | 0 | 0 |
Equity in net (income) loss of equity method investees | (8) | (25) | (447) |
Change in operating assets and liabilities | |||
Receivables | (1,651) | 465 | 393 |
Inventories | 50 | (549) | 116 |
Accounts payable and accrued expenses | 564 | 272 | (691) |
Payments attributed to intercompany balances with Inotera | (361) | 0 | 0 |
Deferred income | 218 | (6) | (105) |
Other | 22 | (15) | 21 |
Net cash provided by operating activities | 8,153 | 3,168 | 5,208 |
Cash flows from investing activities | |||
Expenditures for property, plant, and equipment | (4,734) | (5,817) | (4,021) |
Acquisition of Inotera | (2,634) | 0 | 0 |
Purchases of available-for-sale securities | (1,239) | (1,026) | (4,392) |
Payments to settle hedging activities | (274) | (152) | (132) |
Proceeds from sales and maturities of available-for-sale securities | 970 | 3,690 | 2,248 |
Proceeds from settlement of hedging activities | 184 | 335 | 56 |
Other | 190 | (74) | 25 |
Net cash provided by (used for) investing activities | (7,537) | (3,044) | (6,216) |
Cash flows from financing activities | |||
Proceeds from issuance of debt | 3,311 | 2,199 | 2,212 |
Proceeds from issuance of stock under equity plans | 142 | 48 | 74 |
Proceeds from equipment sale-leaseback transactions | 0 | 765 | 291 |
Repayments of debt | (2,558) | (870) | (2,329) |
Payments on equipment purchase contracts | (519) | (46) | (95) |
Cash paid to acquire treasury stock | (35) | (148) | (884) |
Other | 8 | (203) | 13 |
Net cash provided by (used for) financing activities | 349 | 1,745 | (718) |
Effect of changes in currency exchange rates on cash, cash equivalents, and restricted cash | (12) | 19 | (133) |
Net increase (decrease) in cash, cash equivalents, and restricted cash | 953 | 1,888 | (1,859) |
Cash, cash equivalents, and restricted cash at beginning of period | 4,263 | 2,375 | 4,234 |
Cash, cash equivalents, and restricted cash at end of period | 5,216 | 4,263 | 2,375 |
Supplemental disclosures | |||
Income taxes paid, net | (99) | (90) | (63) |
Interest paid, net of amounts capitalized | (468) | (267) | (226) |
Noncash investing and financing activity | |||
Equipment acquisitions on contracts payable and capital leases | $ 813 | $ 993 | $ 345 |
Significant Accounting Policies |
12 Months Ended |
---|---|
Aug. 31, 2017 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | Significant Accounting Policies Basis of Presentation: Micron Technology, Inc., including its consolidated subsidiaries, is an industry leader in innovative memory and storage solutions. Through our global brands – Micron, Crucial, and Ballistix – our broad portfolio of high-performance memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory, is transforming how the world uses information to enrich life. Backed by more than 35 years of technology leadership, our memory and storage solutions enable disruptive trends, including artificial intelligence, machine learning, and autonomous vehicles in key market segments like cloud, data center, networking, and mobile. The accompanying consolidated financial statements include the accounts of Micron and our consolidated subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America. Certain reclassifications have been made to prior period amounts to conform to current period presentation. Our fiscal year is the 52 or 53-week period ending on the Thursday closest to August 31. Fiscal years 2017 and 2016 each contained 52 weeks and fiscal year 2015 contained 53 weeks. All period references are to our fiscal periods unless otherwise indicated. Derivative and Hedging Instruments: We use derivative instruments to manage our exposure to changes in currency exchange rates from (1) our monetary assets and liabilities denominated in currencies other than the U.S. dollar and (2) forecasted cash flows for certain capital expenditures. Derivative instruments are measured at their fair values and recognized as either assets or liabilities. The accounting for changes in the fair value of derivative instruments is based on the intended use of the derivative and the resulting designation. For derivative instruments that are not designated as hedges for accounting purposes, gains or losses from changes in fair values are recognized in other non-operating income (expense). For derivative forward contracts designated as cash-flow hedges, we exclude changes in the time value from the effectiveness assessment. The effective portion of the gain or loss is included as a component of other comprehensive income (loss) and the ineffective or excluded portion of the gain or loss is included in other non-operating income (expense). Amounts in accumulated other comprehensive income (loss) from these cash flow hedges are reclassified into earnings in the same line items and in the same periods in which the underlying transactions affect earnings. Effectiveness is measured by comparing the cumulative change in the fair value of the hedge contract with the cumulative change in the forecasted cash flows of the hedged item. We enter into master netting arrangements with our counterparties to mitigate credit risk in derivative hedge transactions. These master netting arrangements allow us and our counterparties to net settle amounts owed to each other. Derivative assets and liabilities that can be net settled with each counterparty have been presented in our consolidated balance sheet on a net basis. Financial Instruments: Cash equivalents include highly liquid short-term investments with original maturities to us of three months or less that are readily convertible to known amounts of cash. Other investments with remaining maturities of less than one year are included in short-term investments. Investments with remaining maturities greater than one year are included in long-term marketable investments. The carrying value of investment securities sold is determined using the specific identification method. Functional Currency: The U.S. dollar is the functional currency for us and all of our consolidated subsidiaries. Goodwill and Non-Amortizing Intangible Assets: We perform an annual impairment assessment for goodwill and non-amortizing intangible assets in the fourth quarter of our fiscal year. Inventories: Inventories are stated at the lower of average cost or net realizable value. Cost includes depreciation, labor, material, and overhead costs, including product and process technology costs. Determining net realizable value of inventories involves numerous judgments, including projecting future average selling prices, sales volumes, and costs to complete products in work in process inventories. When net realizable value is below cost, we record a charge to cost of goods sold to write down inventories to their estimated net realizable value in advance of when inventories are actually sold. In determining the lower of average cost or net realizable value, inventories are primarily categorized as memory (including DRAM, NAND, and other memory) based on the major characteristics of product type and markets. We remove amounts from inventory and charge such amounts to cost of goods sold on an average cost basis. Product and Process Technology: Costs incurred to (1) acquire product and process technology, (2) patent technology, and (3) maintain patent technology, are capitalized and amortized on a straight-line basis over periods ranging up to 12.5 years. We capitalize a portion of the costs incurred to patent technology based on historical data of patents issued as a percent of patents we file. Capitalized product and process technology costs are amortized over the shorter of (1) the estimated useful life of the technology, (2) the patent term, or (3) the term of the technology agreement. Fully-amortized assets are removed from product and process technology and accumulated amortization. Product Warranty: We generally provide a limited warranty that our products are in compliance with applicable specifications existing at the time of delivery. Under our standard terms and conditions of sale, liability for certain failures of product during a stated warranty period is usually limited to repair or replacement of defective items or return of, or a credit with respect to, amounts paid for such items. Under certain circumstances, we provide more extensive limited warranty coverage than that provided under our standard terms and conditions. Our warranty obligations are not material. Property, Plant, and Equipment: Property, plant, and equipment is stated at cost and depreciated using the straight-line method over estimated useful lives of generally 10 to 30 years for buildings, 5 to 7 years for equipment, and 3 to 5 years for software. Assets held for sale are carried at the lower of cost or estimated fair value and are included in other noncurrent assets. When property, plant, or equipment is retired or otherwise disposed, the net book value is removed and we recognize any gain or loss in our results of operations. We capitalize interest on borrowings during the period of time we carry out the activities necessary to bring assets to the condition of their intended use and location. Capitalized interest becomes part of the cost, and amortized over the useful lives of, the assets. We periodically assess the estimated useful lives of our property, plant, and equipment. In the fourth quarter of 2016, we identified factors such as the lengthening period of time between DRAM product technology node transitions, an increased re-use rate of equipment, and industry trends. As a result, we revised the estimated useful lives of equipment in our DRAM wafer fabrication facilities from five to seven years in the fourth quarter of 2016. The effect of the revision was not material for 2016 and reduced depreciation costs by approximately $100 million per quarter in 2017. Research and Development: Costs related to the conceptual formulation and design of products and processes are expensed as R&D as incurred. Development of a product is deemed complete when it is qualified through thorough reviews and tests for performance and reliability. Subsequent to product qualification, product costs are included in cost of goods sold. Product design and other R&D costs for certain technologies may be shared with a development partner. Amounts receivable from cost-sharing arrangements are reflected as a reduction of R&D expense. Revenue Recognition: We recognize product or license revenue when persuasive evidence that a sales arrangement exists, delivery has occurred, the price is fixed or determinable, and collectibility is reasonably assured, which is generally at the time of shipment to our customers. If we are unable to reasonably estimate returns or the price is not fixed or determinable, sales made under agreements allowing rights of return or price protection are deferred until customers have resold the product. Revenue recognized upon resale by our customers under these arrangements was 20%, 25%, and 21% of our consolidated revenue for 2017, 2016, and 2015, respectively. Stock-based Compensation: Stock-based compensation is measured at the grant date, based on the fair value of the award, and recognized as expense under the straight-line attribution method over the requisite service period. We issue new shares upon the exercise of stock options or conversion of share units. Treasury Stock: Treasury stock is carried at cost. When we retire our treasury stock, any excess of the repurchase price paid over par value is allocated between additional capital and retained earnings. Use of Estimates: The preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America requires our management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues, expenses, and related disclosures. Estimates and judgments are based on historical experience, forecasted events, and various other assumptions that we believe to be reasonable under the circumstances. Estimates and judgments may differ under different assumptions or conditions. We evaluate our estimates and judgments on an ongoing basis. Actual results could differ from estimates. |
Variable Interest Entities |
12 Months Ended |
---|---|
Aug. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Variable Interest Entities | Variable Interest Entities We have interests in entities that are VIEs. If we are the primary beneficiary of a VIE, we are required to consolidate it. To determine if we are the primary beneficiary, we evaluate whether we have the power to direct the activities that most significantly impact the VIE's economic performance and the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. Our evaluation includes identification of significant activities and an assessment of our ability to direct those activities based on governance provisions and arrangements to provide or receive product and process technology, product supply, operations services, equity funding, financing, and other applicable agreements and circumstances. Our assessments of whether we are the primary beneficiary of our VIEs require significant assumptions and judgments. Unconsolidated VIEs Inotera: Prior to our acquisition of the remaining interest in Inotera on December 6, 2016, Inotera was a VIE because of the terms of its supply agreement with us. We had previously determined that we did not have the power to direct the activities of Inotera that most significantly impacted its economic performance, primarily due to limitations on our governance rights that required the consent of other parties for key operating decisions and due to Inotera's dependence on Nanya for financing and the ability of Inotera to operate in Taiwan. Therefore, we did not consolidate Inotera and we accounted for our interest under the equity method. (See "Acquisition of Inotera" and "Equity Method Investments – Inotera" notes.) PTI Xi'an: Powertech Technology Inc. Xi'an ("PTI Xi'an") is a wholly-owned subsidiary of Powertech Technology Inc. ("PTI") and was created to provide assembly services to us at our manufacturing site in Xi'an, China. In connection therewith, we had capital lease obligations of $80 million and net property, plant, and equipment of $76 million as of August 31, 2017. We do not have an equity interest in PTI Xi'an. PTI Xi'an is a VIE because of the terms of its service agreement with us and its dependency on PTI to finance its operations. We have determined that we do not have the power to direct the activities of PTI Xi'an that most significantly impact its economic performance, primarily because we have no governance rights. Therefore, we do not consolidate PTI Xi'an. Consolidated VIE IMFT: IMFT is a VIE because all of its costs are passed to us and its other member, Intel, through product purchase agreements and because IMFT is dependent upon us or Intel for additional cash requirements. The primary activities of IMFT are driven by the constant introduction of product and process technology. Because we perform a significant majority of the technology development, we have the power to direct its key activities. In addition, IMFT manufactures certain products exclusively for us using our product designs. We consolidate IMFT because we have the power to direct the activities of IMFT that most significantly impact its economic performance and because we have the obligation to absorb losses and the right to receive benefits from IMFT that could potentially be significant to it. (See "Equity – Noncontrolling Interests in Subsidiaries – IMFT" note.) |
Recently Adopted Accounting Standards |
12 Months Ended |
---|---|
Aug. 31, 2017 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recently Adopted Accounting Standards | Recently Adopted Accounting Standards In January 2017, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2017-04 – Simplifying the Test for Goodwill Impairment, which modified the goodwill impairment test and required an entity to write down the carrying value of goodwill up to the amount by which the carrying amount of a reporting unit exceeded its fair value. We adopted this ASU as of the beginning of the fourth quarter of 2017 in connection with our annual impairment test. The adoption of the ASU did not have a material impact on our financial statements. In November 2016, the FASB issued ASU 2016-18 – Restricted Cash, which required amounts generally described as restricted cash and restricted cash equivalents to be included with cash and cash equivalents when reconciling the total beginning and ending amounts for the periods shown on the statement of cash flows. We adopted this ASU in the fourth quarter of 2017 on a retrospective basis. As of September 1, 2016, September 3, 2015, and August 28, 2014, restricted cash was $123 million, $88 million, and $84 million, respectively. The adoption of this ASU did not have a material impact on our cash flows. In March 2016, the FASB issued ASU 2016-09 – Improvements to Employee Share-Based Payment Accounting, which simplified several aspects of the accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, forfeitures, and classification within the statement of cash flows. We adopted this ASU as of the beginning of the first quarter of 2017 and elected to account for forfeitures when they occur, on a modified retrospective basis. At the time of adoption in the first quarter of 2017, we recognized deferred tax assets of $325 million for the excess tax benefits that arose directly from tax deductions related to equity compensation greater than amounts recognized for financial reporting and also recognized an increase of an equal amount in the valuation allowance against those deferred tax assets. The adoption did not have any other material impacts on our financial statements. In April 2015, the FASB issued ASU 2015-05 – Customer's Accounting for Fees Paid in a Cloud Computing Arrangement, which provided additional guidance to customers about whether a cloud computing arrangement includes a software license. Under ASU 2015-05, cloud computing arrangements that contain a software license should be accounted for in a manner consistent with the acquisition of other software licenses, otherwise customers should account for the arrangement as a service contract. ASU 2015-05 also removed the requirement to analogize to ASC 840-10 – Leases, to determine the asset acquired in a software licensing arrangement. We adopted this ASU as of the beginning of the first quarter of 2017 on a prospective basis. The adoption of this ASU did not have a material impact on our financial statements. In February 2015, the FASB issued ASU 2015-02 – Amendments to the Consolidation Analysis, which amended the consolidation requirements in Accounting Standards Codification 810 – Consolidation. ASU 2015-02 made targeted amendments to the consolidation guidance for VIEs. We adopted this ASU as of the beginning of the first quarter of 2017 under a modified-retrospective approach. The adoption of this ASU did not have an impact on our financial statements. |
Recently Issued Accounting Standards |
12 Months Ended |
---|---|
Aug. 31, 2017 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recently Issued Accounting Standards | Recently Issued Accounting Standards In October 2016, the FASB issued ASU 2016-16 – Intra-Entity Transfers Other Than Inventory, which requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. This ASU will be effective for us in the first quarter of 2019 with early adoption permitted and requires modified retrospective adoption. We are evaluating the timing and effects of our adoption of this ASU on our financial statements. In June 2016, the FASB issued ASU 2016-13 – Measurement of Credit Losses on Financial Instruments, which requires a financial asset (or a group of financial assets) measured on the basis of amortized cost to be presented at the net amount expected to be collected. This ASU requires that the income statement reflect the measurement of credit losses for newly recognized financial assets as well as the expected increases or decreases of expected credit losses that have taken place during the period. This ASU requires that credit losses of debt securities designated as available-for-sale be recorded through an allowance for credit losses and limits the credit loss to the amount by which fair value is below amortized cost. This ASU will be effective for us in the first quarter of 2021 with adoption permitted as early as the first quarter of 2020. This ASU requires modified retrospective adoption, with prospective adoption for debt securities for which an other-than-temporary impairment had been recognized before the effective date. We are evaluating the timing and effects of our adoption of this ASU on our financial statements. In February 2016, the FASB issued ASU 2016-02 – Leases, which amends a number of aspects of lease accounting, including requiring lessees to recognize operating leases with a term greater than one year on their balance sheet as a right-of- use asset and corresponding liability, measured at the present value of the lease payments. This ASU will be effective for us in the first quarter of 2020 with early adoption permitted and requires modified retrospective adoption. The adoption of this ASU will result in an increase to our consolidated balance sheets for these right-of-use assets and corresponding liabilities. We are evaluating the timing and other effects of our adoption of this ASU on our financial statements. In January 2016, the FASB issued ASU 2016-01 – Recognition and Measurement of Financial Assets and Financial Liabilities, which provides guidance for the recognition, measurement, presentation, and disclosure of financial assets and liabilities. This ASU will be effective for us in the first quarter of 2019 and requires modified retrospective adoption. We are evaluating the effects of our adoption of this ASU on our financial statements. In May 2014, the FASB issued ASU 2014-09 – Revenue from Contracts with Customers, which supersedes nearly all existing revenue recognition guidance under generally accepted accounting principles in the United States. The core principal of this ASU, as amended, is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. We are required to adopt this ASU in the first quarter of 2019 with adoption permitted as early as the first quarter of 2018. This ASU allows for either full retrospective or modified retrospective adoption. We expect that, as a result of the adoption of this ASU, the timing of recognizing revenue from sales of products to our distributors under agreements allowing rights of return or price protection will be generally earlier than under the existing revenue recognition guidance. Revenue recognized upon resale by our customers under these arrangements was 20%, 25%, and 21% of our consolidated revenue for 2017, 2016, and 2015, respectively. After adoption, the impact of this change in any reporting period would be the net effect of changes to revenue recognized as of the beginning and end of each period. We are evaluating the timing, method, and other effects of our adoption of this ASU on our financial statements. |
Acquisition of Inotera |
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Acquisition of Inotera | Acquisition of Inotera Through December 6, 2016, we held a 33% ownership interest in Inotera, now known as Micron Technology Taiwan, Inc. ("MTTW"), Nanya and certain of its affiliates held a 32% ownership interest, and the remaining ownership interest was publicly held. On December 6, 2016, we acquired the 67% remaining interest in Inotera not owned by us (the "Inotera Acquisition") and began consolidating Inotera's operating results. The cash paid for the Inotera Acquisition was funded, in part, with proceeds from the 2021 MSTW Term Loan and the sale of the Micron Shares (as defined below) to Nanya. Inotera manufactures DRAM products at its 300mm wafer fabrication facility in Taoyuan City, Taiwan, and previously sold such products exclusively to us through supply agreements. SG&A expenses for 2017 and 2016 included transaction costs of $13 million and $3 million, respectively, incurred in connection with the Inotera Acquisition. In connection with the Inotera Acquisition, we revalued our previously-held 33% equity interest to its fair value. In determining the fair value, we used various valuation techniques, including the share price of Inotera prior to the announcement of the Inotera Acquisition and discounted cash flow projections using inputs including discount rate and terminal growth rate (Level 3). As a result, we recognized a non-operating gain of $71 million in 2017. In connection with the Inotera Acquisition, we sold 58 million shares of our common stock to Nanya (the "Micron Shares") and received cash proceeds of $986 million. Because the sale of the Micron Shares to Nanya was contemporaneous with, and contingent upon, the closing the Inotera Acquisition, the issuance of the Micron Shares was treated in purchase accounting as a non-cash exchange for a portion of the shares of Inotera held by Nanya. The Micron Shares were issued in a transaction exempt from the registration requirements of the Securities Act of 1933, as amended, and are subject to certain restrictions on transfers. To reflect the lack of transferability, the fair value of the Micron Shares (based on the trading price of our common stock on the acquisition date) was reduced by a discount of $81 million, based on the implied volatility derived from traded options on our stock and on the duration of the lack of transferability (Level 2). We provisionally estimated the fair value of the Inotera assets acquired and liabilities assumed as of the December 6, 2016 acquisition date. In 2017, we incorporated additional information in our analysis about facts and circumstances that existed as of the acquisition date and adjusted our provisional values, which resulted in a decrease in the amount of purchase price allocated to property, plant, and equipment of $59 million and increases in the amounts allocated to other noncurrent assets of $13 million, deferred income taxes of $8 million, and goodwill of $38 million. The allocation of purchase price to assets acquired and liabilities assumed of Inotera could further change as additional information becomes available. The consideration and provisional valuation of assets acquired and liabilities assumed, as adjusted in 2017, were as follows:
The Inotera Acquisition enhances our flexibility to drive new technology, optimize the deployment of capital, and adapt our product offerings to changes in market conditions. As a result of these synergies, we allocated goodwill of $829 million, $198 million, and $97 million to CNBU, MBU, and EBU, respectively. Goodwill resulting from the Inotera Acquisition is not deductible for Taiwan corporate income tax purposes; however, it is deductible for Taiwan surtax purposes. Unaudited Pro Forma Financial Information The following unaudited pro forma financial information presents the combined results of operations as if the Inotera Acquisition had occurred on September 4, 2015. The pro forma financial information includes the accounting effects of the business combination, including adjustments for depreciation of property, plant, and equipment, interest expense, elimination of intercompany activities, and revaluation of inventories. The unaudited pro forma financial information below is not necessarily indicative of either future results of operations or results that might have been achieved had the Inotera Acquisition occurred on September 4, 2015.
The unaudited pro forma financial information for 2017 includes our results for the year ended August 31, 2017 (which includes the results of Inotera since our acquisition of Inotera on December 6, 2016), the results of Inotera for the three months ended November 30, 2016, and the adjustments described above. The pro forma information for 2016 includes our results for the year ended September 1, 2016, the results of Inotera for the twelve months ended August 31, 2016, and the adjustments described above. Technology Transfer and License Agreements with Nanya Effective December 6, 2016, under the terms of technology transfer and license agreements, Nanya has options to require us to transfer to Nanya certain technology for Nanya's use and deliverables related to the next DRAM process node generation after our 20nm process node (the "1X Process Node") and the next DRAM process node generation after the 1X Process Node. Under the terms of the agreements, Nanya would pay royalties to us for a license to the transferred technologies based on revenues from products utilizing the technologies, subject to specified caps, and we would also receive an equity interest in Nanya upon the achievement of certain milestones. |
Cash and Investments |
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Investments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and Investments | Cash and Investments Cash and equivalents and the fair values of our available-for-sale investments, which approximated amortized costs, were as follows:
Proceeds from sales of available-for-sale securities for 2017, 2016, and 2015 were $776 million, $2.31 billion, and $1.49 billion, respectively. Gross realized gains and losses from sales of available-for-sale securities were not material for any period presented. As of August 31, 2017, there were no available-for-sale securities that had been in a loss position for longer than 12 months. |
Receivables |
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Receivables [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables | Receivables
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Inventories |
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Inventories | Inventories
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Property, Plant, and Equipment |
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Property, Plant and Equipment [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant, and Equipment | Property, Plant, and Equipment
Depreciation expense was $3.76 billion, $2.86 billion, and $2.55 billion for 2017, 2016, and 2015, respectively. As of August 31, 2017, production equipment, buildings, and land with an aggregate carrying value of $6.14 billion were pledged as collateral under various notes payable. Interest capitalized as part of the cost of property, plant, and equipment was $7 million, $43 million, and $20 million for 2017, 2016, and 2015, respectively. In the fourth quarter of 2016, we revised the estimated useful lives of equipment in our DRAM wafer fabrication facilities from five to seven years, which reduced depreciation costs by approximately $100 million per quarter in 2017. |
Equity Method Investments |
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Equity Method Investments and Joint Ventures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Method Investments | Equity Method Investments
Equity in net income (loss) of equity method investees, net of tax, included the following:
The summarized financial information in the tables below reflects aggregate amounts for our equity method investees. Financial information is presented for equity method investments as of the respective dates and for the periods through which we recorded our proportionate share of each investee's results of operations. Summarized results of operations are presented only for the periods subsequent to the acquisition, or through the disposition of, our ownership interests.
Inotera We held a 33% interest in Inotera, a Taiwan DRAM memory company, through December 6, 2016, at which time we acquired the remaining 67% interest in Inotera. Historically, we accounted for our interest in Inotera on a two-month lag under the equity method. As a result of the Inotera Acquisition, we account for Inotera without a lag, consistent with our other wholly-owned subsidiaries. From January 2013 through December 2015, we purchased all of Inotera's DRAM output under supply agreements at prices reflecting discounts from market prices for our comparable components. After December 2015 and until our acquisition of the remaining interest in Inotera, the price for DRAM products purchased by us was based on a formula that equally shared margin between Inotera and us. Under these agreements, we purchased $504 million, $1.43 billion and $2.37 billion of DRAM products in 2017 through the date of our acquisition, 2016, and 2015 respectively. In 2016, we manufactured and sold specialized equipment to Inotera and recognized net sales of $55 million and margin of $16 million. Tera Probe In 2017, we sold our 40% interest in Tera Probe, which provided semiconductor wafer testing and probe services to us, in a transaction that included the sale of our assembly and test facility located in Akita, Japan. (See "Restructure and Asset Impairments" note.) In 2017, 2016, and 2015, we recorded impairment charges of $16 million, $25 million, and $10 million, respectively, within equity in net income (loss) of equity method investees to write down the carrying value of our investment in Tera Probe to its fair value based on its trading price (Level 1). We incurred manufacturing costs for services performed by Tera Probe of $47 million, $70 million, and $90 million in 2017 through the date of sale, 2016, and 2015, respectively. |
Intangible Assets and Goodwill |
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Intangible Assets and Goodwill | Intangible Assets and Goodwill
In 2017, 2016, and 2015, we capitalized $29 million, $30 million, and $98 million, respectively, for product and process technology with weighted-average useful lives of 11 years, 10 years, and 7 years, respectively. Amortization expense was $106 million, $117 million, and $117 million for 2017, 2016, and 2015, respectively. Expected amortization expense is $99 million for 2018, $49 million for 2019, $33 million for 2020, $28 million for 2021, and $17 million for 2022. In 2016, we acquired Tidal Systems, Ltd., a developer of PCIe NAND Flash storage controllers, to enhance our NAND Flash controller technology for $148 million. In connection therewith, we recognized $108 million of in-process R&D; $81 million of goodwill, which was derived from expected cost reductions and other synergies and was assigned to SBU; and $41 million of deferred tax liabilities; which, in aggregate, represented substantially all of the purchase price. The in-process R&D was valued using a replacement cost approach, which included inputs of reproduction cost, including developer's profit, and opportunity cost. We will begin amortizing the in-process R&D when development is complete, estimated to be in 2018, and will amortize it over its then estimated useful life. The goodwill is not deductible for tax purposes. |
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Accounts Payable and Accrued Expenses | Accounts Payable and Accrued Expenses
As of September 1, 2016, related party payables included $266 million due to Inotera primarily for the purchase of DRAM products. |
Debt |
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Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt | Debt
Our convertible and other senior notes are unsecured obligations that rank equally in right of payment with all of our other existing and future unsecured indebtedness, and are effectively subordinated to all of our other existing and future secured indebtedness, to the extent of the value of the assets securing such indebtedness. As of August 31, 2017, Micron had $3.70 billion of unsecured debt (net of unamortized discount and debt issuance costs), including all of its convertible notes and the 2023 Notes, 2024 Notes, 2025 Notes, and 2026 Notes, that was structurally subordinated to all liabilities of its subsidiaries, including trade payables. The terms of our indebtedness generally contain cross payment default and cross acceleration provisions. Micron guarantees certain debt obligations of its subsidiaries, but does not guarantee the MMJ Creditor Payments. Micron's guarantees of its subsidiary debt obligations are unsecured obligations ranking equally in right of payment with all of Micron's other existing and future unsecured indebtedness. MMJ Creditor Payments Under the MMJ Companies' corporate reorganization proceedings, which set forth the treatment of the MMJ Companies' pre-petition creditors and their claims, the MMJ Companies were required to pay 200 billion yen, less certain expenses of the reorganization proceedings and other items, to their secured and unsecured creditors in seven annual installment payments (the "MMJ Creditor Payments"). The MMJ Creditor Payments do not provide for interest and, as a result of our acquisition of the MMJ Companies in 2013, we recorded the MMJ Creditor Payments at fair value. The fair-value discount is accreted to interest expense over the term of the installment payments. Under the MMJ Companies' corporate reorganization proceedings, the secured creditors of MMJ will recover 100% of the amount of their fixed claims in six annual installment payments through December 2018 and the unsecured creditors will recover at least 17.4% of the amount of their fixed claims in seven annual installment payments through December 2019. The unsecured creditors of MAI were scheduled to be paid in seven installments; however, in connection with our sale of MAI in 2017, the remaining MAI creditor obligations were paid in full. The remaining portion of the unsecured claims of the creditors of MMJ not recovered pursuant to the corporate reorganization proceedings will be discharged, without payment, through December 2019. The following table presents the remaining amounts of MMJ Creditor Payments (stated in Japanese yen and U.S. dollars) and the amount of unamortized discount as of August 31, 2017:
Pursuant to the terms of an Agreement on Support for Reorganization Companies that we executed in the fourth quarter of 2012 with the trustees of the MMJ Companies' pending corporate reorganization proceedings, we entered into a series of agreements with the MMJ Companies, including supply agreements, research and development services agreements, and general services agreements, which are intended to generate operating cash flows to meet the requirements of the MMJ Companies' businesses, including the funding of the MMJ Creditor Payments. Capital Lease Obligations In 2017, we recorded capital lease obligations aggregating $220 million at a weighted-average effective interest rate of 5.1%, with a weighted-average expected term of ten years. In 2016, we recorded capital lease obligations aggregating $882 million, including $765 million related to equipment sale-leaseback transactions. 2021 MSAC Senior Secured Term Loan In November 2016, we entered into a five-year variable-rate facility agreement to obtain up to $800 million of financing, collateralized by certain production equipment, and drew $800 million under the facility in 2017. Interest is payable quarterly at a per annum rate equal to three-month LIBOR plus 2.4%. Principal is payable in 16 equal quarterly installments beginning in March 2018. The 2021 MSAC Term Loan contains covenants which are customary for financings of this type, including negative covenants that limit or restrict our ability to create liens or dispose of the equipment securing the facility agreement. The 2021 MSAC Term Loan also contains customary events of default which could result in the acceleration of all amounts to be immediately due and payable. The 2021 MSAC Term Loan is guaranteed by Micron. 2021 MSTW Senior Secured Term Loan In connection with the Inotera Acquisition, on December 6, 2016, we drew 80 billion New Taiwan dollars under a collateralized, five-year term loan that bears interest at a variable per annum rate equal to the three-month TAIBOR plus a margin of 2.05%. Principal under the 2021 MSTW Term Loan is payable in six equal semi-annual installments from June 2019 through December 2021. The 2021 MSTW Term Loan is collateralized by certain assets, including a real estate mortgage on MTTW's main production facility and site, a chattel mortgage over certain equipment of MTTW, all of the stock of our MSTW subsidiary, and the 82% of stock of MTTW owned by MSTW. The 2021 MSTW Term Loan is guaranteed by Micron. The 2021 MSTW Term Loan contains affirmative and negative covenants, including covenants that limit or restrict our ability to create liens in or dispose of collateral securing obligations under the 2021 MSTW Term Loan, mergers involving MSTW and/or MTTW, loans or guarantees to third parties by MTTW and/or MSTW, and MSTW's and/or MTTW's distribution of cash dividends. The 2021 MSTW Term Loan also contains financial covenants, which are tested semi-annually, as follows:
If MSTW fails to maintain a required financial covenant, the interest rate will be increased by 0.25% until such time as the required financial ratios are maintained. If MSTW's failure continues for two consecutive semi-annual periods, such failure will constitute an event of default that could result in all obligations owed under the loan being accelerated to be immediately due and payable. Micron's failure to maintain a required financial covenant will only result in a 0.25% increase to the interest rate but will not constitute an event of default. The loan also contains customary events of default. Unsecured Senior Notes The unsecured notes in the table below (the " Unsecured Senior Notes") contain covenants that, among other things, limit, in certain circumstances, our ability and/or the ability of our domestic restricted subsidiaries (which are generally subsidiaries in the U.S. in which we own at least 80% of the voting stock) to (1) create or incur certain liens and enter into sale and lease-back transactions, (2) create, assume, incur, or guarantee certain additional secured indebtedness and unsecured indebtedness of our domestic restricted subsidiaries, and (3) consolidate with or merge with or into, or convey, transfer or lease all or substantially all of our assets, to another entity. These covenants are subject to a number of limitations, exceptions, and qualifications. Cash Redemption at Our Option: We have the option to redeem the Unsecured Senior Notes. The applicable redemption price will be determined as follows:
Senior Secured Borrowings 2022 Senior Secured Term Loan B: In April 2016, we issued $750 million in principal amount of 2022 Term Loan B notes due April 2022. Interest was payable at a rate equal to LIBOR plus 6.00%. In April 2017 and October 2016, we amended our 2022 Term Loan B, substantially all of which was treated as a debt modification, to reduce the interest rate margins, and as of August 31, 2017, the 2022 Term Loan B generally bears interest at LIBOR plus 2.50%. We may elect to convert outstanding term loans to other variable-rate indexes. Principal payments are due quarterly in an amount equal to 0.25% of the initial aggregate principal amount with the balance due at maturity and may be prepaid without penalty. Interest is payable at least quarterly. 2023 Senior Secured Notes: In April 2016, we issued $1.25 billion in principal amount of 2023 Secured Notes due September 2023. In the first quarter of 2018, we issued notices to redeem our 2023 Secured Notes. See "Debt Repurchases and Conversions" below. Senior Secured Borrowings Collateral and Covenants: The 2022 Term Loan B and 2023 Secured Notes are collateralized by substantially all of the assets of Micron and MSP, a subsidiary of Micron, subject to certain permitted liens on such assets. Included in our consolidated balance sheet as of August 31, 2017 were $6.22 billion of assets which collateralize these notes. The 2022 Term Loan B and 2023 Secured Notes are structurally subordinated to the indebtedness and other liabilities of all of Micron's subsidiaries that do not guarantee these debt obligations. MSP guarantees both of these notes. The 2022 Term Loan B and 2023 Secured Notes each contain covenants that, among other things, limit, in certain circumstances, the ability of Micron and/or its domestic restricted subsidiaries to (1) create or incur certain liens and enter into sale-leaseback financing transactions; (2) in the case of domestic restricted subsidiaries, create, assume, incur, or guarantee additional indebtedness; and (3) in the case of Micron, consolidate or merge with or into, or sell, assign, convey, transfer, lease, or otherwise dispose of all or substantially all of its assets to another entity. These covenants are subject to a number of limitations, exceptions, and qualifications. Convertible Senior Notes
Conversion Rights: Holders of our convertible notes may convert their notes under the following circumstances: (1) if the notes are called for redemption; (2) during any calendar quarter if the closing price of our common stock for at least 20 trading days in the 30 consecutive trading days ending on the last trading day of the preceding calendar quarter is more than 130% of the conversion price (see "Conversion Price Per Share Threshold" in the table above); (3) if the trading price of the notes is less than 98% of the product of the closing price of our common stock and the conversion rate of the notes during the periods specified in the indentures; (4) if specified distributions or corporate events occur, as set forth in the indenture for the notes; or (5) during the last three months prior to the maturity date of the notes. For the calendar quarter ended September 30, 2017, the closing price of our common stock exceeded 130% of the conversion price for our 2032 Notes and 2033 Notes; therefore, those notes are convertible by the holders through December 31, 2017. In August 2017, holders of our 2033E Notes with an aggregate principal amount of $58 million converted their notes, which were settled in the first quarter of 2018. For converted notes with an aggregate principal amount of $16 million, we elected to settle the conversion obligation in excess of the principal amount in cash. We elected to settle the remaining notes with an aggregate principal amount of $42 million with a combination of cash for the principal amount and shares of our common stock for the remainder of the settlement amount. As a result of our election to settle all amounts due upon conversion in cash for some of these notes, such settlement obligations became derivative debt liabilities subject to mark-to-market accounting treatment based on the volume-weighted-average price of our common stock over a period of 20 consecutive trading days. Accordingly, at the dates of our elections to settle the conversions in cash, we reclassified the fair values of the equity components of each of the converted notes from additional capital to derivative debt liabilities within current debt in our consolidated balance sheet. The net carrying amount for 2017 included $31 million for the fair values of the derivative debt liabilities as of August 31, 2017. The 20 consecutive trading day period ended in the first quarter of 2018, and we settled the conversion for $92 million in cash and 3 million shares of our treasury stock. Cash Redemption at Our Option: We may redeem our convertible notes under the circumstances listed in the table below. The redemption price for the notes will equal the principal amount at maturity, or the accreted principal amount in the case of the 2043G Notes redeemed on or after November 20, 2018, plus accrued and unpaid interest.
Cash Repurchase at the Option of the Holders: We may be required by the holders of our convertible notes to repurchase for cash all or a portion of the notes on the "Holder Put Date" listed in the table above. The repurchase price would equal the principal amount, or the accreted principal amount in the case of the 2043G Notes, plus accrued and unpaid interest. Also, upon a change in control or a termination of trading, as defined in the respective indentures, holders of our convertible notes may require us to repurchase for cash all or a portion of their notes. Other: Interest expense for our convertible notes consisted of contractual interest of $51 million, $51 million, and $59 million for 2017, 2016, and 2015, respectively and amortization of discount and issuance costs of $37 million, $36 million, and $42 million for 2017, 2016, and 2015, respectively. As of August 31, 2017 and September 1, 2016, the carrying amounts of the equity components of our convertible notes, which are included in additional capital in the accompanying consolidated balance sheets, were $287 million and $308 million, respectively. Available Revolving Credit Facility We have a senior secured revolving credit facility that expires in 2020, under which we can draw up to the lesser of $750 million or 80% of the net outstanding balance of certain trade receivables, as defined in the facility agreement. Any amounts drawn are collateralized by a security interest in such trade receivables. The credit facility contains customary covenants and conditions, including as a funding condition the absence of any event or circumstance that has a material adverse effect on certain of our operations, assets, prospects, business, or condition, and including negative covenants that limit or restrict our ability to create liens on, or dispose of, the collateral underlying the obligations under this facility. Interest is payable on any outstanding principal balance at a variable rate equal to the LIBOR plus an applicable margin ranging between 1.75% to 2.25%, depending upon the utilized portion of the facility. As of August 31, 2017, there were no outstanding amounts drawn under this facility and $750 million was available for us to draw. Debt Repurchases and Conversions On October 12, 2017, subsequent to the end of 2017, we issued a notice to redeem $438 million of principal amount of our 2023 Secured Notes on November 13, 2017 for $470 million in cash, excluding accrued and unpaid interest. The amount redeemed represents 35% of the original principal amount of the 2023 Secured Notes issued and will be settled with proceeds from our common stock issuance in October 2017. On October 17, 2017, we issued a notice to redeem the remaining $812 million of principal amount of our 2023 Secured Notes on November 16, 2017 for approximately $885 million, excluding accrued and unpaid interest. Additionally, on October 17, 2017, we issued a notice to redeem all of our 2023 Notes on November 16, 2017 for approximately $1.05 billion in cash, excluding accrued and unpaid interest. In connection with these redemptions, we expect to recognize non-operating losses of approximately $170 million in the first quarter of 2018. In 2017, we repurchased $631 million of principal amount of our 2025 Notes (carrying value of $625 million), repurchased $321 million of principal amount of our 2026 Notes (carrying value of $318 million), and redeemed $600 million principal amount of our 2022 Notes (carrying value of $592 million) for an aggregate of $1.63 billion in cash. In connection with the transactions, we recognized aggregate non-operating losses of $94 million in 2017. In 2016, we repurchased $57 million of principal amount of our 2033E Notes (carrying value of $54 million) for $94 million in cash. The liability and equity components of the repurchased notes had previously been stated separately within debt and equity in our consolidated balance sheet. As a result, the repurchase decreased the carrying value of debt by $54 million and equity by $38 million. In 2015, we consummated a number of transactions to restructure our debt, including repurchases, conversions and settlements of convertible notes, and the early repayment of a note. As a result, $489 million of aggregate principal amount of our convertible notes was settled for $1.43 billion in cash. The liability and equity components of the repurchased convertible notes had previously been stated separately within debt and equity in our consolidated balance sheet. As a result, the repurchases, conversions and settlements decreased the carrying value of debt by $686 million (including $275 million for the fair value of our derivative debt liability to settle the conversions entirely in cash) and equity by $691 million. In connection with these transactions, we recognized aggregate non-operating losses of $49 million. Maturities of Notes Payable and Future Minimum Lease Payments As of August 31, 2017, maturities of notes payable (including the MMJ Creditor Payments) and future minimum lease payments under capital lease obligations were as follows:
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Commitments |
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Aug. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
Commitments | Commitments As of August 31, 2017, we had commitments of approximately $1.10 billion for the acquisition of property, plant, and equipment. We lease certain facilities and equipment under operating leases, for which expense was $52 million, $46 million, and $48 million for 2017, 2016, and 2015, respectively. Minimum future operating lease commitments as of August 31, 2017 were as follows:
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Contingencies |
12 Months Ended |
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Aug. 31, 2017 | |
Loss Contingency [Abstract] | |
Contingencies | Contingencies We have accrued a liability and charged operations for the estimated costs of adjudication or settlement of various asserted and unasserted claims existing as of the balance sheet date, including those described below. We are currently a party to other legal actions arising from the normal course of business, none of which is expected to have a material adverse effect on our business, results of operations, or financial condition. Patent Matters As is typical in the semiconductor and other high-tech industries, from time to time, others have asserted, and may in the future assert, that our products or manufacturing processes infringe upon their intellectual property rights. On November 21, 2014, Elm 3DS Innovations, LLC ("Elm") filed a patent infringement action against Micron, MSP, and Micron Consumer Products Group, Inc. in the U.S. District Court for the District of Delaware. On March 27, 2015, Elm filed an amended complaint against the same entities. The amended complaint alleges that unspecified semiconductor products of ours that incorporate multiple stacked die infringe thirteen U.S. patents and seeks damages, attorneys' fees, and costs. On December 15, 2014, Innovative Memory Solutions, Inc. filed a patent infringement action against Micron in the U.S. District Court for the District of Delaware. The complaint alleges that a variety of our NAND products infringe eight U.S. patents and seeks damages, attorneys' fees, and costs. On June 24, 2016, the President and Fellows of Harvard University filed a patent infringement action against Micron in the U.S. District Court for the District of Massachusetts. The complaint alleges that a variety of our DRAM products infringe two U.S. patents and seeks damages, injunctive relief, and other unspecified relief. Among other things, the above lawsuits pertain to certain of our DDR DRAM, DDR2 DRAM, DDR3 DRAM, DDR4 DRAM, SDR SDRAM, PSRAM, RLDRAM, LPDRAM, NAND, and certain other memory products we manufacture, which account for a significant portion of our net sales. We are unable to predict the outcome of assertions of infringement made against us and therefore cannot estimate the range of possible loss. A determination that our products or manufacturing processes infringe the intellectual property rights of others or entering into a license agreement covering such intellectual property could result in significant liability and/or require us to make material changes to our products and/or manufacturing processes. Any of the foregoing could have a material adverse effect on our business, results of operations, or financial condition. Qimonda On January 20, 2011, Dr. Michael Jaffé, administrator for Qimonda's insolvency proceedings, filed suit against Micron and Micron Semiconductor B.V., our Netherlands subsidiary ("Micron B.V."), in the District Court of Munich, Civil Chamber. The complaint seeks to void, under Section 133 of the German Insolvency Act, a share purchase agreement between Micron B.V. and Qimonda signed in fall 2008, pursuant to which Micron B.V. purchased substantially all of Qimonda's shares of Inotera (the "Inotera Shares"), representing approximately 18% of Inotera's outstanding shares as of August 31, 2017, and seeks an order requiring us to re-transfer those shares to the Qimonda estate. The complaint also seeks, among other things, to recover damages for the alleged value of the joint venture relationship with Inotera and to terminate, under Sections 103 or 133 of the German Insolvency Code, a patent cross-license between us and Qimonda entered into at the same time as the share purchase agreement. Following a series of hearings with pleadings, arguments, and witnesses on behalf of the Qimonda estate, on March 13, 2014, the court issued judgments: (1) ordering Micron B.V. to pay approximately $1 million in respect of certain Inotera Shares sold in connection with the original share purchase; (2) ordering Micron B.V. to disclose certain information with respect to any Inotera Shares sold by it to third parties; (3) ordering Micron B.V. to disclose the benefits derived by it from ownership of the Inotera Shares, including in particular, any profits distributed on the Inotera Shares and all other benefits; (4) denying Qimonda's claims against Micron for any damages relating to the joint venture relationship with Inotera; and (5) determining that Qimonda's obligations under the patent cross-license agreement are canceled. In addition, the court issued interlocutory judgments ordering, among other things: (1) that Micron B.V. transfer to the Qimonda estate the Inotera Shares still owned by Micron B.V. and pay to the Qimonda estate compensation in an amount to be specified for any Inotera Shares sold to third parties; and (2) that Micron B.V. pay the Qimonda estate as compensation an amount to be specified for benefits derived by Micron B.V. from ownership of the Inotera Shares. The interlocutory judgments have no immediate, enforceable effect on us, and, accordingly, we expect to be able to continue to operate with full control of the Inotera Shares subject to further developments in the case. We have filed a notice of appeal, and the parties have submitted briefs to the appeals court. We are unable to predict the outcome of the matter and therefore cannot estimate the range of possible loss. The final resolution of this lawsuit could result in the loss of the Inotera Shares or monetary damages, unspecified damages based on the benefits derived by Micron B.V. from the ownership of the Inotera Shares, and/or the termination of the patent cross-license, which could have a material adverse effect on our business, results of operation, or financial condition. Other In the normal course of business, we are a party to a variety of agreements pursuant to which we may be obligated to indemnify the other party. It is not possible to predict the maximum potential amount of future payments under these types of agreements due to the conditional nature of our obligations and the unique facts and circumstances involved in each particular agreement. Historically, our payments under these types of agreements have not had a material adverse effect on our business, results of operations, or financial condition. |
Redeemable Convertible Notes |
12 Months Ended |
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Aug. 31, 2017 | |
Temporary Equity [Abstract] | |
Redeemable Convertible Notes | Redeemable Convertible Notes Under the terms of the indentures governing the 2033 Notes, upon conversion, we would be required to pay cash equal to the lesser of (1) the aggregate principal amount or (2) the conversion value of the notes being converted. To the extent the conversion value exceeds the principal amount, we could pay cash, shares of common stock, or a combination thereof, at our option, for the amount of such excess. The closing price of our common stock met the thresholds for conversion for the calendar quarter ended June 30, 2017; therefore, the 2033 Notes were convertible by the holders as of August 31, 2017. As a result, the 2033 Notes were classified as current debt and the aggregate difference between the principal amount and the carrying value of $21 million was classified as redeemable convertible notes in the accompanying consolidated balance sheet as of August 31, 2017. The closing price of our common stock did not meet the thresholds for the calendar quarter ended June 30, 2016; therefore, the 2033 Notes were not convertible by the holders as of September 1, 2016. Therefore, as of September 1, 2016, the 2033 Notes had been classified as noncurrent debt and the aggregate difference between the principal amount and the carrying value had been classified as additional capital. |
Equity |
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Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity | Equity Micron Shareholders' Equity Common Stock Issuance: In October 2017, subsequent to the end of 2017, we issued 34 million shares of our common stock for $41.00 per share in a public offering, for net proceeds of $1.36 billion, net of underwriting fees and other offering costs. Common Stock Repurchases: Our Board has authorized the discretionary repurchase of up to $1.25 billion of our outstanding common stock in open-market purchases, block trades, privately-negotiated transactions, or derivative transactions. Through 2017, we had repurchased a total of 49 million shares for $956 million through open-market transactions pursuant to such authorization. The shares received in all periods were recorded as treasury stock. Repurchases are subject to market conditions and our ongoing determination of the best use of available cash. Treasury Stock: In connection with the Inotera Acquisition, we sold 58 million shares of our common stock to Nanya for $986 million in cash, of which 54 million shares were issued from treasury stock. As a result, in 2017, treasury stock decreased by $1.03 billion while retained earnings decreased by $104 million for the difference between the carrying value of the treasury stock and its $925 million fair value. Outstanding Capped Calls: We entered into capped call transactions in connection with certain of our convertible notes which are intended to reduce the effect of potential dilution. The capped calls provide for our receipt of cash or shares, at our election, from our counterparties if the trading price of our stock is above strike prices on the expiration dates. As of August 31, 2017, the dollar value of cash or shares that we would receive from our outstanding capped calls upon their expiration dates range from $0, if the trading price of our stock is below strike prices for all capped calls at expiration, to $527 million, if the trading price of our stock is at or above the cap prices for all capped calls. Settlement of the capped calls prior to the expiration dates may be for an amount less than the maximum value at expiration. The following table presents information related to outstanding capped calls as of August 31, 2017:
Expiration of Capped Calls: In 2017, we cash-settled and share-settled separate expirations of portions of our capped calls, and received $125 million in cash and 4 million shares (equal to a value of $67 million) based on the volume-weighted trading stock prices at the expiration dates. In 2016 and 2015, we share-settled expirations of portions of our capped calls and received 2 million shares of our stock (equal to a value of $23 million) and 3 million shares of our stock (equal to a value of $50 million), respectively. The shares received in all periods were recorded as treasury stock. Shareholder Rights Plan: On January 18, 2017, our shareholders approved a Section 382 Rights Agreement (the "Rights Agreement"), under which our shareholders of record as of the close of business on August 1, 2016 received one right for each share of common stock outstanding, which entitles certain shareholders to purchase additional shares of our common stock at a significant discount in the event of certain transactions that may result in an ownership change, as defined by Section 382 of the Internal Revenue Code of 1986, as amended (the "Code"). In general, an ownership change will occur when the percentage of our ownership by one or more 5% shareholders has increased by more than 50% at any time during the prior three years. Rights will attach to all shares of the Company’s common stock issued prior to the earlier of the rights’ distribution date or expiration date as set forth in the Rights Agreement. Pursuant to the Rights Agreement, if a shareholder (or group) acquires beneficial ownership of 4.99% or more of the outstanding shares of our common stock without prior approval of our Board or without meeting certain customary exceptions, the rights (other than rights held by the acquiring shareholder (or group) and certain related persons) would become exercisable. The Rights Agreement is intended to avoid an adverse ownership change, thereby preserving our current ability to utilize certain net operating loss and credit carryforwards; however, there is no assurance that the Rights Agreement will prevent all transfers that could result in such an ownership change. Accumulated Other Comprehensive Income (Loss): Changes in accumulated other comprehensive (loss) by component for the year ended August 31, 2017 were as follows:
Noncontrolling Interests in Subsidiaries
IMFT: Since 2006, we have owned 51% of IMFT, a joint venture between us and Intel to manufacture memory products exclusively for its members, who share the output of IMFT in proportion to their investment under a long-term supply agreement at prices approximating cost. In 2017, IMFT began to transition its manufacturing from NAND to 3D XPoint memory products. IMFT is governed by a Board of Managers, for which the number of managers appointed by each member varies based on the members' respective ownership interests. The IMFT joint venture agreement extends through 2024 and includes certain buy-sell rights. Through December 2018, Intel can put to us, and from January 2019 through December 2021, we can call from Intel, Intel's interest in IMFT, in either case, for an amount equal to the noncontrolling interest balance attributable to Intel at such time either member exercises its right. If Intel exercises its put right, we can elect to set the closing date of the transaction to be any time within two years following such election by Intel and can elect to receive financing of the purchase price from Intel for one to two years from the closing date. Creditors of IMFT have recourse only to IMFT's assets and do not have recourse to any other of our assets. IMFT manufactures memory products using designs and technology we develop with Intel. We generally share with Intel the costs of product design and process development activities for NAND and 3D XPoint memory at IMFT and our other facilities. Our R&D expenses were reduced by reimbursements from Intel of $213 million, $205 million, and $224 million for 2017, 2016, and 2015, respectively. Non-Trade sales primarily consists of NAND and 3D XPoint memory products manufactured and sold to Intel through IMFT and were $553 million, $501 million, and $463 million for 2017, 2016, and 2015, respectively. The following table presents the assets and liabilities of IMFT included in our consolidated balance sheets:
Amounts exclude intercompany balances that were eliminated in our consolidated balance sheets. The table below presents IMFT's distributions to and contributions from its members for 2016 and 2015. There were no distributions or contributions for 2017.
Restrictions on Net Assets As a result of the corporate reorganization proceedings of MMJ initiated in 2012, and for so long as such proceedings continue, MMJ is subject to certain restrictions on dividends, loans, and advances. In addition, the 2021 MSTW Term Loan contains covenants that limit or restrict the ability of MSTW and/or MTTW to distribute cash dividends. Also, our ability to access the cash and other assets of IMFT through dividends, loans, or advances, including to finance our other operations, is subject to agreement by Intel. As a result, our total restricted net assets (excluding intercompany balances and noncontrolling interests) as of August 31, 2017 were $3.65 billion for the MMJ Group, $2.22 billion for MSTW and MTTW, and $885 million for IMFT. As of August 31, 2017, the MMJ Group held cash and equivalents of $580 million, MSTW and MTTW held an aggregate of $56 million, and IMFT held $87 million. |
Fair Value Measurements |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements | Fair Value Measurements Accounting standards establish three levels of inputs that may be used to measure fair value: quoted prices in active markets for identical assets or liabilities (referred to as Level 1), inputs other than Level 1 that are observable for the asset or liability either directly or indirectly (referred to as Level 2), and unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities (referred to as Level 3). All of our marketable debt and equity investments (excluding equity method investments) were classified as available-for-sale and carried at fair value. In connection with our repurchases of our convertible notes in 2016 and 2015, we determined the fair value of the debt components, as if they were stand-alone instruments, using interest rates for similar nonconvertible debt issued by entities with credit ratings comparable to ours (Level 2). Amounts reported as cash and equivalents, receivables, and accounts payable and accrued expenses approximate fair value. The estimated fair value and carrying value of our outstanding debt instruments (excluding the carrying value of equity and mezzanine equity components of our convertible notes) were as follows:
The fair values of our convertible notes were determined based on inputs that were observable in the market or that could be derived from, or corroborated with, observable market data, including the trading price of our convertible notes when available, our stock price, and interest rates based on similar debt issued by parties with credit ratings similar to ours (Level 2). The fair values of our other debt instruments were estimated based on discounted cash flows using inputs that were observable in the market or that could be derived from, or corroborated with, observable market data, including the trading price of our notes, when available, and interest rates based on similar debt issued by parties with credit ratings similar to ours (Level 2). |
Derivative Instruments |
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Derivative Instruments | Derivative Instruments We use derivative instruments to manage our exposure to changes in currency exchange rates from our monetary assets and liabilities denominated in currencies other than the U.S. dollar. We do not use derivative instruments for speculative purpose. Derivative Instruments without Hedge Accounting Designation Currency Derivatives: To hedge our exposures of monetary assets and liabilities to changes in currency exchange rates, we generally utilize a rolling hedge strategy with currency forward contracts that mature within nine months. In addition, to mitigate the risk of the yen strengthening against the U.S. dollar with respect to our MMJ Creditor Payments due in December 2017 and 2018, we have forward contracts to purchase 18 billion yen in December 2017 and 28 billion yen in December 2018. At the end of each reporting period, monetary assets and liabilities denominated in currencies other than the U.S. dollar are remeasured into U.S. dollars and the associated outstanding forward contracts are marked to market. Currency forward contracts are valued at fair values based on the middle of bid and ask prices of dealers or exchange quotations (Level 2). Convertible Notes Settlement Obligations: In August 2017, holders of our certain of our 2033E Notes converted their notes. For converted notes with an aggregate principal amount of $16 million, we elected to settle the conversion obligation in excess of the principal amount in cash. As a result, those settlement obligations became derivative debt liabilities subject to mark-to-market accounting treatment based on the volume-weighted-average price of our common stock over a period of 20 consecutive trading days. The fair values of the underlying derivative settlement obligations were initially determined using the Black-Scholes option valuation model (Level 2), which requires inputs of stock price, expected stock-price volatility, estimated option life, risk-free interest rate, and dividend rate. The subsequent measurements and final settlement amounts of our convertible notes settlement obligations were based on the volume-weighted-average stock price (Level 1). Changes in fair values of the derivative settlement obligations were included in other non-operating income (expense), net. Total notional amounts and gross fair values for derivative instruments without hedge accounting designation were as follows:
Realized and unrealized gains and losses on derivative instruments without hedge accounting designation as well as the change in the underlying monetary assets and liabilities due to changes in currency exchange rates are included in other non-operating income (expense). For derivative instruments without hedge accounting designation, recognized gains (losses) were as follows:
Derivative Instruments with Cash Flow Hedge Accounting Designation Currency Derivatives: We may utilize currency forward contracts that generally mature within 12 months to hedge our exposure to changes in cash flows from changes in currency exchange rates for certain capital expenditures. Currency forward contracts are measured at fair value based on market-based observable inputs including currency exchange spot and forward rates, interest rates, and credit-risk spreads (Level 2). For derivative instruments designated as cash flow hedges, the effective portion of the realized and unrealized gain or loss on the derivatives is included as a component of accumulated other comprehensive income (loss). Amounts in accumulated other comprehensive income (loss) are reclassified into earnings in the same line items and in the same periods in which the underlying transactions affect earnings. The ineffective and excluded portion of the realized and unrealized gain or loss is included in other non-operating income (expense). Total notional amounts and gross fair values for derivative instruments with cash flow hedge accounting designation were as follows:
We recognized gains of $15 million and $10 million, and losses of $10 million, for 2017, 2016, and 2015, respectively, in accumulated other comprehensive income (loss) from the effective portion of cash flow hedges. Neither the ineffective portions of cash flow hedges recognized in other non-operating income (expense) nor the reclassifications from accumulated other comprehensive income (loss) to earnings were material in 2017, 2016, or 2015. The amounts from cash flow hedges included in accumulated other comprehensive income (loss) that are expected to be reclassified into earnings in the next 12 months were not material. Derivative Counterparty Credit Risk and Master Netting Arrangements Our derivative instruments expose us to credit risk to the extent counterparties may be unable to meet the terms of the contracts. Our maximum exposure to loss due to credit risk if counterparties fail completely to perform according to the terms of the contracts would generally equal the fair value of assets for these contracts as listed in the tables above. We seek to mitigate such risk by limiting our counterparties to major financial institutions and by spreading risk across multiple financial institutions. As of August 31, 2017 and September 1, 2016, amounts netted under our master netting arrangements were not material. |
Equity Plans |
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Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Plans | Equity Plans As of August 31, 2017, 101 million shares of our common stock were available for future awards under our equity plans. Stock Options Our stock options are generally exercisable in increments of either one-fourth or one-third per year beginning one year from the date of grant. Stock options issued after February 2014 expire eight years from the date of grant. Options issued prior to February 2014 expire six years from the date of grant. Option activity for 2017 is summarized as follows:
The total intrinsic value was $198 million, $52 million, and $229 million for options exercised in 2017, 2016, and 2015, respectively. Stock options granted and assumptions used in the Black-Scholes option valuation model were as follows:
Stock price volatility was based on an average of historical volatility and the implied volatility derived from traded options on our stock. The expected lives of options granted were based, in part, on historical experience and on the terms and conditions of the options. The risk-free interest rates utilized were based on the U.S. Treasury yield in effect at each grant date. No dividends were assumed in estimated option values. Restricted Stock and Restricted Stock Units ("Restricted Stock Awards") As of August 31, 2017, there were 19 million shares of Restricted Stock Awards outstanding, of which 3 million were performance-based or market-based. For service-based Restricted Stock Awards, restrictions generally lapse in one-fourth increments during each year of employment after the grant date. Vesting for performance-based awards is contingent upon the Company meeting a specified return on assets ("ROA"), as defined, over a three-year performance period and vesting for market-based Restricted Stock Awards is contingent upon the Company achieving total shareholder return ("TSR") relative to the companies included in the S&P 500 over a three-year performance period. At the end of the performance period, the number of actual shares to be awarded will vary between 0% and 200% of target amounts, depending upon the achievement level of the specified ROA or TSR. Restricted Stock Awards activity for 2017 is summarized as follows:
Stock-based Compensation Expense
Stock-based compensation expense of $20 million and $18 million was capitalized and remained in inventory as of August 31, 2017 and September 1, 2016, respectively. As of August 31, 2017, $341 million of total unrecognized compensation costs for unvested awards, before the effect of any future forfeitures, was expected to be recognized through the fourth quarter of 2021, resulting in a weighted-average period of 1.2 years. |
Employee Benefit Plans |
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Retirement Benefits [Abstract] | |
Employee Benefit Plans | Employee Benefit Plans We have employee retirement plans at our U.S. and international sites. Details of the more significant plans are discussed as follows: Employee Savings Plan for U.S. Employees We have a 401(k) retirement plan under which U.S. employees may contribute up to 75% of their eligible pay (subject to IRS annual contribution limits) to various savings alternatives, none of which include direct investment in our stock. We match in cash eligible contributions from employees up to 5% of the employee's annual eligible earnings. Contribution expense for the 401(k) plans was $52 million, $54 million, and $55 million in 2017, 2016, and 2015, respectively. Retirement Plans We have pension plans in various countries available to local employees which are generally government mandated. As of August 31, 2017, the projected benefit obligations of our plans were $175 million and plan assets were $150 million. As of September 1, 2016, the projected benefit obligations of our plans were $167 million and plan assets were $131 million. Pension expense was not material for 2017, 2016, or 2015. |
Restructure and Asset Impairments |
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Aug. 31, 2017 | |
Restructuring and Related Activities [Abstract] | |
Restructure and Asset Impairments | Restructure and Asset Impairments In separate transactions in 2017, we sold our assembly and test facility located in Akita, Japan and our 40% ownership interest in Tera Probe; assets associated with our 200mm fabrication facility in Singapore; and assets related to Lexar. As a result, we recognized gains of $15 million in 2017 and expect to recognize an additional gain of approximately $100 million in 2019 upon the completion of the sale of the Singapore facility. In 2016, we initiated a restructure plan in response to business conditions and the need to accelerate focus on our key priorities. The plan included the elimination of certain projects and programs, the permanent closure of a number of open headcount requisitions, workforce reductions in certain areas of our business, and other non-headcount related spending reductions. As a result, we incurred charges of $33 million in 2017 and $58 million in 2016 and do not expect to incur additional material charges. As of September 1, 2016, we had accrued liabilities of $24 million related to the plan, which was paid in 2017. |
Other Operating (Income) Expense, Net |
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Other Income and Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Operating (Income) Expense, Net | Other Operating (Income) Expense, Net
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Other Nonoperating Income (Expense) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Non-Operating Income (Expense), Net | Other Non-Operating Income (Expense), Net
In 2016, we recognized other non-operating expense of $30 million to write off indemnification receivables upon the resolution of uncertain tax positions. |
Income Taxes |
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Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Taxes | Income Taxes
Income tax (provision) benefit computed using the U.S. federal statutory rate reconciled to income tax (provision) benefit was as follows:
We operate in a number of tax jurisdictions, including Singapore and Taiwan, where our earnings are indefinitely reinvested and are taxed at lower effective tax rates than the U.S. statutory rate and in a number of locations outside the United States, including Singapore, where we have tax incentive arrangements that are conditional, in part, upon meeting certain business operations and employment thresholds. The effect of tax incentive arrangements, which expire in whole or in part at various dates through 2030, reduced our tax provision by $742 million (benefiting our diluted earnings per share by $0.64) for 2017, were not material in 2016, and by $338 million ($0.29 per diluted share) for 2015. Deferred income taxes reflect the net tax effects of temporary differences between the bases of assets and liabilities for financial reporting and income tax purposes as well as carryforwards. Deferred tax assets and liabilities consist of the following:
We continually assess positive and negative evidence for each jurisdiction to determine whether it is more likely than not that existing deferred tax assets will be realized. As of August 31, 2017 and September 1, 2016, we had a valuation allowance of $1.52 billion and $1.16 billion, respectively, against U.S. net deferred tax assets, primarily related to net operating loss and tax credit carryforwards. Income taxes on U.S. operations for 2017, 2016, and 2015 were substantially offset by changes in the valuation allowance. We had valuation allowances against net deferred tax assets, primarily related to net operating loss carryforwards, for our subsidiaries in Japan and for our other foreign subsidiaries, of $627 million and $172 million, respectively, as of August 31, 2017, and $765 million and $177 million, respectively, as of September 1, 2016. Changes in the valuation allowance were due to the effect of income or loss in the United States, changes in foreign currency, adjustments based on management's assessment of foreign net operating losses that are more likely than not to be realized. Due to the adoption of ASU 2016-09, we recognized deferred tax assets of $325 million offset by an equal increase in valuation allowance. See "Part II – Item 8. Financial Statements and Supplementary Data – Notes to Consolidated Financial Statements – Recently Adopted Accounting Standards." As of August 31, 2017, our federal, state, and foreign net operating loss carryforward amounts and expiration periods, as reported to tax authorities, were as follows:
As of August 31, 2017, our federal and state tax credit carryforward amounts and expiration periods, as reported to tax authorities, were as follows:
Provision has been made for deferred taxes on undistributed earnings of non-U.S. subsidiaries to the extent that dividend payments from such companies are expected to result in additional tax liabilities. No provision has been made for taxes due on approximately $12.91 billion of the excess of the financial reporting amount over the tax basis of investments in foreign subsidiaries that are indefinitely reinvested. Generally, this amount becomes taxable upon a repatriation of assets from the subsidiary or a sale or liquidation of the subsidiary. Determination of the amount of unrecognized deferred tax liabilities related to investments in these foreign subsidiaries is not practicable. Below is a reconciliation of the beginning and ending amount of unrecognized tax benefits:
As of the date of the Inotera Acquisition, Inotera's net operating loss carryforwards were $654 million, which expire on various dates through 2023. In connection with the Inotera Acquisition, we assumed $54 million of uncertain tax positions. The decrease in unrecognized tax benefits in 2017 and 2016 is primarily related to favorable resolution of certain tax matters. Included in the unrecognized tax benefits balance in the table above as of August 31, 2017 were $8 million of unrecognized income tax benefits, which if recognized, would affect our effective tax rate. The amount accrued for interest and penalties related to uncertain tax positions was not material for any period presented. The resolution of tax audits or expiration of statute of limitations could also reduce our unrecognized tax benefits. Although the timing of final resolution is uncertain, the estimated potential reduction in our unrecognized tax benefits in the next 12 months would not be material. We and our subsidiaries file income tax returns with the U.S. federal government, various U.S. states, and various foreign jurisdictions throughout the world. Our U.S. federal and state tax returns remain open to examination for 2013 through 2017. In addition, tax returns that remain open to examination in Japan range from the years 2011 to 2017 and in Singapore and Taiwan from 2012 to 2017. We believe that adequate amounts of taxes and related interest and penalties have been provided for, and any adjustments as a result of examinations are not expected to materially adversely affect our business, results of operations, or financial condition. |
Earnings Per Share |
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Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share | Earnings Per Share
Listed below are the potential common shares, as of the end of the periods shown, that could dilute basic earnings per share in the future that were not included in the computation of diluted earnings per share because to do so would have been antidilutive:
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Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Information | Segment Information Segment information reported herein is consistent with how it is reviewed and evaluated by our chief operating decision maker. We have the following four business units, which are our reportable segments: Compute and Networking Business Unit ("CNBU"): Includes memory products sold into compute, networking, graphics, and cloud server markets. Storage Business Unit ("SBU"): Includes memory and storage products sold into enterprise, client, cloud, and removable storage markets. SBU also includes products sold to Intel through our IMFT joint venture. Mobile Business Unit ("MBU"): Includes memory products sold into smartphone, tablet, and other mobile-device markets. Embedded Business Unit ("EBU"): Includes memory products sold into automotive, industrial, connected home, and consumer electronics markets. Certain operating expenses directly associated with the activities of a specific segment are charged to that segment. Other indirect operating expenses (income) are generally allocated to segments based on their respective percentage of cost of goods sold or forecasted wafer production. In 2017, we revised the measure of segment profitability reviewed by our chief operating decision maker and, as a result, certain items are no longer allocated to our business units. Comparative periods have been revised to reflect these changes. Items not allocated are identified in the table below. We do not identify or report internally our assets (other than goodwill) or capital expenditures by segment, nor do we allocate gains and losses from equity method investments, interest, other non-operating income or expense items, or taxes to segments. As of August 31, 2017, CNBU, MBU, SBU, and EBU had goodwill of $832 million, $198 million, $101 million, and $97 million, respectively and as of September 1, 2016, SBU and CNBU had goodwill of $101 million and $3 million, respectively.
Depreciation and amortization expense included in operating income was as follows:
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Product Sales |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reconciliation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Product Sales | Product Sales
Non-Trade primarily consists of NAND and 3D XPoint products manufactured and sold to Intel through IMFT under a long-term supply agreement at prices approximating cost. Information regarding products that combine both NAND and DRAM components is reported within Trade NAND. Other includes sales of NOR and trade 3D XPoint products. |
Certain Concentrations |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risks and Uncertainties [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Certain Concentrations | Certain Concentrations Markets with concentrations of net sales were approximately as follows:
Sales to Kingston, as a percentage of total net sales, were 10% and 11% for 2017 and 2015, respectively. Sales to Intel, including Non-Trade sales through IMFT, as a percentage of total net sales, were 14% for 2016 and no other customer exceeded 10% of our total net sales. Substantially all of our sales to Kingston were included in our CNBU and SBU segments and substantially all of our sales to Intel were included in our SBU and CNBU segments. We generally have multiple sources of supply for our raw materials and production equipment; however, only a limited number of suppliers are capable of delivering certain raw materials and production equipment that meet our standards and, in some cases, materials or production equipment are provided by a single supplier. Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash, money market accounts, certificates of deposit, fixed-rate debt securities, trade receivables, and derivative contracts. We invest through high-credit-quality financial institutions and, by policy, generally limit the concentration of credit exposure by restricting investments with any single obligor and monitoring credit risk of bank counterparties on an ongoing basis. A concentration of credit risk may exist with respect to receivables of certain customers. We perform ongoing credit evaluations of customers worldwide and generally do not require collateral from our customers. Historically, we have not experienced material losses on receivables. A concentration of risk may also exist with respect to derivatives as the number of counterparties to our currency hedges is limited and the notional amounts are relatively large. We seek to mitigate such risk by limiting our counterparties to major financial institutions and through entering into master netting arrangements. Capped calls expose us to credit risk to the extent the counterparties may be unable to meet the terms of the agreements. We seek to mitigate such risk by limiting our counterparties to major financial institutions and by spreading the risk across several major financial institutions. In addition, the potential risk of loss with any one counterparty resulting from this type of credit risk is monitored on an ongoing basis. |
Geographic Information |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Geographic Information | Geographic Information Geographic net sales based on customer ship-to location were as follows:
Net property, plant, and equipment by geographic area was as follows:
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Quarterly Financial Information |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Quarterly Financial Information | Quarterly Financial Information (Unaudited) (in millions except per share amounts)
The second quarter of 2017 includes Inotera's results of operations from the December 6, 2016 acquisition date as well as a non-operating gain of $71 million for the revaluation of our previously-held 33% equity interest in Inotera to its fair value. (See "Acquisition of Inotera" note.) Results of operations in the fourth and third quarters of 2017 included losses of $37 million and $61 million, respectively, related to the repurchases and conversions of debt.
Results of operations in the fourth quarter of 2016 included charges of $58 million related to restructure activities initiated in 2016. |
Schedule I Condensed Financial Information of the Registrant |
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Micron Technology, Inc. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Financial Information of the Registrant | SCHEDULE I CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT MICRON TECHNOLOGY, INC. (Parent Company Only) CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (in millions)
See accompanying notes to condensed financial statements. SCHEDULE I CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT MICRON TECHNOLOGY, INC. (Parent Company Only) CONDENSED BALANCE SHEETS (in millions except par value amounts)
See accompanying notes to condensed financial statements. SCHEDULE I CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT MICRON TECHNOLOGY, INC. (Parent Company Only) CONDENSED STATEMENTS OF CASH FLOWS (in millions)
See accompanying notes to condensed financial statements. MICRON TECHNOLOGY, INC. SCHEDULE I CONDENSED FINANCIAL INFORMATION OF THE REGISTRANT NOTES TO CONDENSED FINANCIAL STATEMENTS (All tabular amounts in millions) Basis of Presentation Micron, a Delaware corporation, was incorporated in 1978. Micron is the parent company of its consolidated subsidiaries and, together with its consolidated subsidiaries, is a global leader in advanced semiconductor systems. These condensed financial statements have been prepared on a parent-only basis, and as such, reflect transactions in a manner that may be different than the consolidated financial statements. Under this parent-only presentation, Micron's investments in its consolidated subsidiaries are presented under the equity method of accounting. In accordance with Rule 12-04 of Regulation S-X, these parent-only financial statements do not include all of the information and footnotes required by Generally Accepted Accounting Principles (GAAP) in the United States for annual financial statements. Because these parent-only financial statements and notes do not include all of the information and footnotes required by GAAP in the United States for annual financial statements, they should be read in conjunction with Micron's audited Consolidated Financial Statements contained within Part II, Item 8 of this Annual Report on Form 10-K for the year ended August 31, 2017. Debt
Micron's convertible and other senior notes are unsecured obligations that rank equally in right of payment with all of Micron's other existing and future unsecured indebtedness, and are effectively subordinated to all of its other existing and future secured indebtedness, to the extent of the value of the assets securing such indebtedness. As of August 31, 2017, Micron had $3.70 billion of unsecured debt (net of unamortized discount and debt issuance costs), including all of its convertible notes and the 2023 Notes, 2024 Notes, 2025 Notes, and 2026 Notes, that was structurally subordinated to all liabilities of its subsidiaries, including trade payables. The terms of all of Micron's indebtedness generally contain cross payment and cross acceleration provisions. As of August 31, 2017, Micron had guaranteed $4.16 billion of certain debt obligations of its subsidiaries, but does not guarantee the MMJ Creditor Payments (see "Commitments" below.) Micron's guarantees of its subsidiary debt obligations are unsecured obligations ranking equally in right of payment with all of Micron's other existing and future unsecured indebtedness. The 2022 Term Loan B and 2023 Secured Notes are collateralized by substantially all of the assets of Micron and MSP, a subsidiary of Micron, subject to certain permitted liens on such assets. Included in Micron's balance sheet as of August 31, 2017 were $8.36 billion of assets which collateralize these notes, which includes $2.14 billion investment in subsidiaries. The 2022 Term Loan B Notes and 2023 Secured Notes are structurally subordinated to the indebtedness and other liabilities of all of Micron's subsidiaries that do not guarantee these debt obligations. MSP guarantees both of these notes. Capital Lease Obligations As of August 31, 2017 and September 1, 2016, Micron had production equipment with carrying values of $155 million and $226 million, respectively, under capital leases. Convertible Senior Notes, Senior Secured Notes, and Unsecured Senior Notes For further information, see "Part II – Item 8. Financial Statements and Supplementary Data – Notes to Consolidated Financial Statements – Debt." Maturities of Notes Payable and Future Minimum Lease Payments As of August 31, 2017, maturities of notes payable and future minimum lease payments under capital lease obligations were as follows:
Commitments Micron has provided various financial guarantees issued in the normal course of business on behalf of its subsidiaries. These contracts include debt guarantees and guarantees of certain banking facilities. Micron enters into these arrangements to facilitate commercial transactions with third parties by enhancing the value of the transaction to the third party. Micron has entered into agreements covering certain activities of its subsidiaries, and occasionally Micron may be required to perform under such agreements on behalf of its subsidiaries. As of August 31, 2017, the maximum potential amount of future payments Micron could have been required to make under its debt guarantees was approximately $4.16 billion. Substantially all of this amount relates to guarantees for debt of wholly-owned entities whereby Micron would be obligated to perform under the guarantee if a subsidiary were to default on the terms of their debt arrangements. In the event of performance under the guarantee, Micron would be permitted to seek reimbursement from the subsidiary company(ies) through liquidation of the assets which were collateral under various debt instruments. At the time these contracts were entered into, the collateralized assets approximated the value of the outstanding guarantees. The majority of these guarantees expire at various times between January 2019 and April 2022. Micron guarantees a subsidiary credit facility that provides for up to $750 million of financing. As of August 31, 2017, there were no outstanding amounts drawn under this facility. Micron has guaranteed the obligations of Micron Semiconductor Asia Pte. Ltd. ("MSA") and Micron Semiconductor (Xi'an) Co. Ltd. ("MXA"), each wholly-owned subsidiaries of Micron, in connection with a service agreement with Powertech Technology Inc. Xi'an ("PTI Xi'an") to provide assembly services to us at our manufacturing site in Xi'an, China. Micron would be required to pay the financial obligations of MSA and/or MXA in the event MSA and/or MXA fail to pay PTI Xi'an for services performed under the assembly services agreement. Micron's guarantee of MSA and of MXA extends through March 2022, the term of the assembly service agreement, but may be further extended through March 2024 if any party extends the assembly services agreement. The maximum potential amount of future payments Micron may be required to pay under this guarantee is indeterminable because the pricing and volume under the assembly services agreement are variable. Micron has guaranteed the obligations of MSA under the 2021 MSAC Term Loan and the obligations of MSTW under the 2021 MSTW Term Loan. For further information, see "Part II – Item 8. Financial Statements and Supplementary Data – Notes to Consolidated Financial Statements – Debt – 2021 MSAC Senior Secured Term Loan and 2021 MSTW Senior Secured Term Loan." Micron has guaranteed the obligations of certain of its subsidiaries to a supplier of capital equipment through June 2019. As of August 31, 2017, Micron had guaranteed $65 million of such payments. Micron guarantees certain banking facilities for its wholly-owned consolidated entities. Substantially all of these guarantees relate to bank overdraft protections or issuance of commercial letters of credit/bank guarantees. The maximum potential amount of future payments Micron could be required to make under these guarantees of banking facilities varies based on the extent of potential credit exposure. Micron's business processes substantially mitigate the risk of wholly-owned subsidiaries overdrawing their bank accounts and the exposure under commercial letters of credit/bank guarantees is $35 million. The majority of these banking facility guarantees have no contractual expiration. Contingencies As is typical in the semiconductor and other high technology industries, from time to time others have asserted, and may in the future assert, that Micron and its subsidiaries' products or manufacturing processes infringe their intellectual property rights. Micron has accrued a liability and charged operations for the estimated costs of adjudication or settlement of various asserted and unasserted claims existing as of the balance sheet date. Micron is currently a party to various litigation regarding patent, commercial, and other matters. Micron is a party to the matters listed in the "Contingencies" note in the consolidated financial statements. For further information, see "Part II – Item 8. Financial Statements and Supplementary Data – Notes to Consolidated Financial Statements – Contingencies." Redeemable Convertible Notes For further information, see "Part II – Item 8. Financial Statements and Supplementary Data – Notes to Consolidated Financial Statements – Redeemable Convertible Notes." Related Party Transactions Substantially all of Micron's activities relate to manufacturing and R&D services performed for its subsidiaries and to royalties received for use of product and process technology. Micron's net sales to consolidated subsidiaries were $5.58 billion, $5.38 billion, and $5.42 billion for 2017, 2016, and 2015, respectively. Gross margins on manufacturing activities are commensurate with market rates for such services. Transactions between Micron and its consolidated subsidiaries are eliminated in consolidation. Micron engages in various transactions with its equity method investees and eliminate the profits or losses on those transactions to the extent of its ownership interest until such time as the profits or losses are realized. For further information regarding transactions between Micron and its equity method investees, see "Part II – Item 8. Financial Statements and Supplementary Data – Notes to Consolidated Financial Statements – Equity Method Investments." |
Schedule II Valuation and Qualifying Accounts |
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Valuation and Qualifying Accounts [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule II Valuation and Qualifying Accounts | SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS (in millions) MICRON TECHNOLOGY, INC.
Amounts charged to other accounts for the year ended August 31, 2017 includes $325 million as a result of the adoption of ASU 2016-09. See "Part II – Item 8. Financial Statements and Supplementary Data – Notes to Consolidated Financial Statements – Recently Adopted Accounting Standards." |
Significant Accounting Policies (Policies) |
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Aug. 31, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | The accompanying consolidated financial statements include the accounts of Micron and our consolidated subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America. |
Reclassifications | Certain reclassifications have been made to prior period amounts to conform to current period presentation. |
Fiscal Period | Our fiscal year is the 52 or 53-week period ending on the Thursday closest to August 31. Fiscal years 2017 and 2016 each contained 52 weeks and fiscal year 2015 contained 53 weeks. All period references are to our fiscal periods unless otherwise indicated. |
Derivative and Hedging Instruments | Derivative and Hedging Instruments: We use derivative instruments to manage our exposure to changes in currency exchange rates from (1) our monetary assets and liabilities denominated in currencies other than the U.S. dollar and (2) forecasted cash flows for certain capital expenditures. Derivative instruments are measured at their fair values and recognized as either assets or liabilities. The accounting for changes in the fair value of derivative instruments is based on the intended use of the derivative and the resulting designation. For derivative instruments that are not designated as hedges for accounting purposes, gains or losses from changes in fair values are recognized in other non-operating income (expense). For derivative forward contracts designated as cash-flow hedges, we exclude changes in the time value from the effectiveness assessment. The effective portion of the gain or loss is included as a component of other comprehensive income (loss) and the ineffective or excluded portion of the gain or loss is included in other non-operating income (expense). Amounts in accumulated other comprehensive income (loss) from these cash flow hedges are reclassified into earnings in the same line items and in the same periods in which the underlying transactions affect earnings. Effectiveness is measured by comparing the cumulative change in the fair value of the hedge contract with the cumulative change in the forecasted cash flows of the hedged item. We enter into master netting arrangements with our counterparties to mitigate credit risk in derivative hedge transactions. These master netting arrangements allow us and our counterparties to net settle amounts owed to each other. Derivative assets and liabilities that can be net settled with each counterparty have been presented in our consolidated balance sheet on a net basis. |
Cash Equivalents | Cash equivalents include highly liquid short-term investments with original maturities to us of three months or less that are readily convertible to known amounts of cash. |
Investments | Other investments with remaining maturities of less than one year are included in short-term investments. Investments with remaining maturities greater than one year are included in long-term marketable investments. The carrying value of investment securities sold is determined using the specific identification method. |
Functional Currency | Functional Currency: The U.S. dollar is the functional currency for us and all of our consolidated subsidiaries. |
Goodwill | Goodwill and Non-Amortizing Intangible Assets: We perform an annual impairment assessment for goodwill and non-amortizing intangible assets in the fourth quarter of our fiscal year. |
Non-Amortizing Intangible Assets | Goodwill and Non-Amortizing Intangible Assets: We perform an annual impairment assessment for goodwill and non-amortizing intangible assets in the fourth quarter of our fiscal year. |
Inventories | Inventories: Inventories are stated at the lower of average cost or net realizable value. Cost includes depreciation, labor, material, and overhead costs, including product and process technology costs. Determining net realizable value of inventories involves numerous judgments, including projecting future average selling prices, sales volumes, and costs to complete products in work in process inventories. When net realizable value is below cost, we record a charge to cost of goods sold to write down inventories to their estimated net realizable value in advance of when inventories are actually sold. In determining the lower of average cost or net realizable value, inventories are primarily categorized as memory (including DRAM, NAND, and other memory) based on the major characteristics of product type and markets. We remove amounts from inventory and charge such amounts to cost of goods sold on an average cost basis. |
Product and Process Technology | Product and Process Technology: Costs incurred to (1) acquire product and process technology, (2) patent technology, and (3) maintain patent technology, are capitalized and amortized on a straight-line basis over periods ranging up to 12.5 years. We capitalize a portion of the costs incurred to patent technology based on historical data of patents issued as a percent of patents we file. Capitalized product and process technology costs are amortized over the shorter of (1) the estimated useful life of the technology, (2) the patent term, or (3) the term of the technology agreement. Fully-amortized assets are removed from product and process technology and accumulated amortization. |
Product Warranty | Product Warranty: We generally provide a limited warranty that our products are in compliance with applicable specifications existing at the time of delivery. Under our standard terms and conditions of sale, liability for certain failures of product during a stated warranty period is usually limited to repair or replacement of defective items or return of, or a credit with respect to, amounts paid for such items. Under certain circumstances, we provide more extensive limited warranty coverage than that provided under our standard terms and conditions. Our warranty obligations are not material. |
Property, Plant, and Equipment | Property, Plant, and Equipment: Property, plant, and equipment is stated at cost and depreciated using the straight-line method over estimated useful lives of generally 10 to 30 years for buildings, 5 to 7 years for equipment, and 3 to 5 years for software. Assets held for sale are carried at the lower of cost or estimated fair value and are included in other noncurrent assets. When property, plant, or equipment is retired or otherwise disposed, the net book value is removed and we recognize any gain or loss in our results of operations. We capitalize interest on borrowings during the period of time we carry out the activities necessary to bring assets to the condition of their intended use and location. Capitalized interest becomes part of the cost, and amortized over the useful lives of, the assets. We periodically assess the estimated useful lives of our property, plant, and equipment. In the fourth quarter of 2016, we identified factors such as the lengthening period of time between DRAM product technology node transitions, an increased re-use rate of equipment, and industry trends. As a result, we revised the estimated useful lives of equipment in our DRAM wafer fabrication facilities from five to seven years in the fourth quarter of 2016. The effect of the revision was not material for 2016 and reduced depreciation costs by approximately $100 million per quarter in 2017. |
Research and Development | Research and Development: Costs related to the conceptual formulation and design of products and processes are expensed as R&D as incurred. Development of a product is deemed complete when it is qualified through thorough reviews and tests for performance and reliability. Subsequent to product qualification, product costs are included in cost of goods sold. Product design and other R&D costs for certain technologies may be shared with a development partner. Amounts receivable from cost-sharing arrangements are reflected as a reduction of R&D expense. |
Revenue Recognition | Revenue Recognition: We recognize product or license revenue when persuasive evidence that a sales arrangement exists, delivery has occurred, the price is fixed or determinable, and collectibility is reasonably assured, which is generally at the time of shipment to our customers. If we are unable to reasonably estimate returns or the price is not fixed or determinable, sales made under agreements allowing rights of return or price protection are deferred until customers have resold the product. Revenue recognized upon resale by our customers under these arrangements was 20%, 25%, and 21% of our consolidated revenue for 2017, 2016, and 2015, respectively. |
Stock-based Compensation | Stock-based Compensation: Stock-based compensation is measured at the grant date, based on the fair value of the award, and recognized as expense under the straight-line attribution method over the requisite service period. We issue new shares upon the exercise of stock options or conversion of share units. |
Treasury Stock | Treasury Stock: Treasury stock is carried at cost. When we retire our treasury stock, any excess of the repurchase price paid over par value is allocated between additional capital and retained earnings. |
Use of Estimates | Use of Estimates: The preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America requires our management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues, expenses, and related disclosures. Estimates and judgments are based on historical experience, forecasted events, and various other assumptions that we believe to be reasonable under the circumstances. Estimates and judgments may differ under different assumptions or conditions. We evaluate our estimates and judgments on an ongoing basis. Actual results could differ from estimates. |
Variable Interest Entities (Policies) |
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Aug. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Variable Interest Entities | We have interests in entities that are VIEs. If we are the primary beneficiary of a VIE, we are required to consolidate it. To determine if we are the primary beneficiary, we evaluate whether we have the power to direct the activities that most significantly impact the VIE's economic performance and the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. Our evaluation includes identification of significant activities and an assessment of our ability to direct those activities based on governance provisions and arrangements to provide or receive product and process technology, product supply, operations services, equity funding, financing, and other applicable agreements and circumstances. Our assessments of whether we are the primary beneficiary of our VIEs require significant assumptions and judgments. |
Acquisition of Inotera (Tables) - Inotera |
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Schedule of Inotera Acquisition | The consideration and provisional valuation of assets acquired and liabilities assumed, as adjusted in 2017, were as follows:
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Pro Forma Information including Inotera |
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Cash and Investments (Tables) |
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Investments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and equivalents and the fair values of available-for-sale investments | Cash and equivalents and the fair values of our available-for-sale investments, which approximated amortized costs, were as follows:
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Receivables (Tables) |
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Inventories (Tables) |
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Schedule of Inventories |
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Property, Plant, and Equipment (Tables) |
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Schedule of Property, Plant, and Equipment |
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Equity Method Investments (Tables) |
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Equity Method Investments and Joint Ventures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Equity Method Investments |
Equity in net income (loss) of equity method investees, net of tax, included the following:
The summarized financial information in the tables below reflects aggregate amounts for our equity method investees. Financial information is presented for equity method investments as of the respective dates and for the periods through which we recorded our proportionate share of each investee's results of operations. Summarized results of operations are presented only for the periods subsequent to the acquisition, or through the disposition of, our ownership interests.
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Intangible Assets and Goodwill (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Intangible Assets and Goodwill |
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Accounts Payable and Accrued Expenses (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payables and Accruals [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Accounts Payable And Accrued Expenses |
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Debt (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Debt |
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Schedule of MMJ Creditor Payments | The following table presents the remaining amounts of MMJ Creditor Payments (stated in Japanese yen and U.S. dollars) and the amount of unamortized discount as of August 31, 2017:
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Schedule of Senior Notes | We have the option to redeem the Unsecured Senior Notes. The applicable redemption price will be determined as follows:
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Schedule of Convertible Senior Notes |
We may redeem our convertible notes under the circumstances listed in the table below. The redemption price for the notes will equal the principal amount at maturity, or the accreted principal amount in the case of the 2043G Notes redeemed on or after November 20, 2018, plus accrued and unpaid interest.
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Maturities of Notes Payable and Future Minimum Lease Payments | As of August 31, 2017, maturities of notes payable (including the MMJ Creditor Payments) and future minimum lease payments under capital lease obligations were as follows:
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Commitments (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Minimum Future Operating Lease Commitments | Minimum future operating lease commitments as of August 31, 2017 were as follows:
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Equity (Tables) |
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Aug. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Schedule of Options Indexed to Issuer's Equity | The following table presents information related to outstanding capped calls as of August 31, 2017:
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Schedule of Accumulated Other Comprehensive Income (Loss) |
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Schedule Of Noncontrolling Interests In Subsidiaries |
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IM Flash Technologies, LLC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Variable Interest Entity [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total IMFT assets and liabilities | The following table presents the assets and liabilities of IMFT included in our consolidated balance sheets:
Amounts exclude intercompany balances that were eliminated in our consolidated balance sheets. |
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IMFT's distributions to, and contributions from, shareholders | The table below presents IMFT's distributions to and contributions from its members for 2016 and 2015. There were no distributions or contributions for 2017.
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Fair Value Measurements (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated fair value and carrying value of debt instruments | The estimated fair value and carrying value of our outstanding debt instruments (excluding the carrying value of equity and mezzanine equity components of our convertible notes) were as follows:
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Derivative Instruments (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instrument Detail [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Derivative Instruments without Hedge Accounting Designation | Total notional amounts and gross fair values for derivative instruments without hedge accounting designation were as follows:
Realized and unrealized gains and losses on derivative instruments without hedge accounting designation as well as the change in the underlying monetary assets and liabilities due to changes in currency exchange rates are included in other non-operating income (expense). For derivative instruments without hedge accounting designation, recognized gains (losses) were as follows:
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Schedule of Derivative Instruments with Cash Flow Hedge Accounting Designation | Total notional amounts and gross fair values for derivative instruments with cash flow hedge accounting designation were as follows:
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Equity Plans (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule option activity | Option activity for 2017 is summarized as follows:
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Stock options granted and assumptions used in Black-Scholes option valuation model | Stock options granted and assumptions used in the Black-Scholes option valuation model were as follows:
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Schedule restricted stock awards activity | Restricted Stock Awards activity for 2017 is summarized as follows:
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Stock-based compensation expense by caption |
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Other Operating (Income) Expense, Net (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Income and Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Other Operating (Income) Expense, Net |
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Other Non-Operating Income (Expense), Net (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Nonoperating Income (Expense) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Other Nonoperating Income (Expense), Net |
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Income Taxes (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of income (loss) before income taxes, net income (loss) attributable to noncontrolling interests, and equity in net income (loss) of equity method investees |
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Schedule of income tax (provision) benefit |
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Income tax (provision) benefit computed using the U.S. federal statutory rate reconciled to income tax (provision) benefit | Income tax (provision) benefit computed using the U.S. federal statutory rate reconciled to income tax (provision) benefit was as follows:
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Deferred tax assets and liabilities | Deferred tax assets and liabilities consist of the following:
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Net operating loss carryforwards | As of August 31, 2017, our federal, state, and foreign net operating loss carryforward amounts and expiration periods, as reported to tax authorities, were as follows:
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Federal and state tax credit carryforwards | As of August 31, 2017, our federal and state tax credit carryforward amounts and expiration periods, as reported to tax authorities, were as follows:
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Reconciliation of beginning and ending amount of unrecognized tax benefits | Below is a reconciliation of the beginning and ending amount of unrecognized tax benefits:
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Earnings Per Share (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basic and diluted earnings per share |
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Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | Listed below are the potential common shares, as of the end of the periods shown, that could dilute basic earnings per share in the future that were not included in the computation of diluted earnings per share because to do so would have been antidilutive:
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Segment Information (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Results by Segment |
Depreciation and amortization expense included in operating income was as follows:
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Product Sales (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reconciliation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Product Sales |
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Certain Concentrations (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risks and Uncertainties [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Market Concentration Risk | Markets with concentrations of net sales were approximately as follows:
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Geographic Information (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Sales based on Ship-to Location | Geographic net sales based on customer ship-to location were as follows:
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Net Property, Plant, and Equipment by Geographic Areas | Net property, plant, and equipment by geographic area was as follows:
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Quarterly Financial Information (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Quarterly Financial Information |
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Schedule I Condensed Financial Information of the Registrant (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Parent Debt |
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Maturities of Parent Notes Payable and Future Minimum Lease Payments | As of August 31, 2017, maturities of notes payable (including the MMJ Creditor Payments) and future minimum lease payments under capital lease obligations were as follows:
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Micron Technology, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Parent Debt |
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Maturities of Parent Notes Payable and Future Minimum Lease Payments | As of August 31, 2017, maturities of notes payable and future minimum lease payments under capital lease obligations were as follows:
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Schedule II Valuation and Qualifying Accounts (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Tax Asset Valuation Allowance |
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Significant Accounting Policies - Product and Process Technology (Details) |
12 Months Ended |
---|---|
Aug. 31, 2017 | |
Product and process technology | Maximum | |
Finite-Lived Intangible Assets [Line Items] | |
Maximum life of product and process technology intangible assets (in years) | 12 years 6 months |
Significant Accounting Policies - Property, Plant and Equipment (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | 12 Months Ended |
---|---|---|---|
Sep. 01, 2016 |
Jun. 02, 2016 |
Aug. 31, 2017 |
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Buildings | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant, and equipment useful life (in years) | 10 years | ||
Buildings | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant, and equipment useful life (in years) | 30 years | ||
Equipment | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant, and equipment useful life (in years) | 5 years | ||
Equipment | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant, and equipment useful life (in years) | 7 years | ||
Software | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant, and equipment useful life (in years) | 3 years | ||
Software | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant, and equipment useful life (in years) | 5 years | ||
Service Life | DRAM fabrication equipment | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant, and equipment useful life (in years) | 7 years | 5 years | |
Quarterly depreciation credit from change in useful life | $ (100) |
Significant Accounting Policies - Revenue (Details) |
12 Months Ended | ||
---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Customers with Price Protection or Rights of Return | ASU 2014-09 | Previously Reported | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Percent of revenue from customers with price protection or rights of return | 20.00% | 25.00% | 21.00% |
Variable Interest Entities (Details) $ in Millions |
Aug. 31, 2017
USD ($)
|
---|---|
Debt | Capital lease obligations | |
Variable Interest Entity [Line Items] | |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities | $ 80 |
Property, Plant, and Equipment | |
Variable Interest Entity [Line Items] | |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets | $ 76 |
Recently Adopted Accounting Standards (Details) - USD ($) $ in Millions |
3 Months Ended | ||||
---|---|---|---|---|---|
Dec. 01, 2016 |
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
Aug. 28, 2014 |
|
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Deferred tax assets recorded for Adoption of ASU 2016-09 | $ 3,782 | $ 3,297 | |||
Accounting Standards Update 2016-18 | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Restricted Cash | $ 123 | $ 88 | $ 84 | ||
Accounting Standards Update 2016-09 | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Deferred tax assets recorded for Adoption of ASU 2016-09 | $ 325 | ||||
Valuation allowance against DTA recorded for adoption of ASU 2016-09 | $ 325 |
Recently Issued Accounting Standards (Details) |
12 Months Ended | ||
---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Customers with Price Protection or Rights of Return | ASU 2014-09 | Previously Reported | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Percent of revenue from customers with price protection or rights of return | 20.00% | 25.00% | 21.00% |
Acquisition of Inotera (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
3 Months Ended | 12 Months Ended | ||||
---|---|---|---|---|---|---|
Dec. 06, 2016 |
Mar. 02, 2017 |
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
Dec. 05, 2016 |
|
Acquisition of Inotera | ||||||
Gain on remeasurement of previously-held equity interest in Inotera | $ 71 | $ 0 | $ 0 | |||
Consideration | ||||||
Payments attributed to intercompany balances with Inotera | 361 | 0 | $ 0 | |||
Assets acquired and liabilities assumed | ||||||
Goodwill | 1,228 | 104 | ||||
Unaudited Pro Forma Financial Information | ||||||
Net sales | 20,317 | 12,341 | ||||
Net Income (Loss) | 5,172 | (543) | ||||
Net income (loss) attributable to Micron | $ 5,171 | $ (544) | ||||
Earnings (loss) per share, basic (in dollars per share) | $ 4.68 | $ (0.50) | ||||
Earnings (loss) per share, diluted (in dollars per share) | $ 4.42 | $ (0.50) | ||||
CNBU | ||||||
Assets acquired and liabilities assumed | ||||||
Goodwill | $ 832 | $ 3 | ||||
MBU | ||||||
Assets acquired and liabilities assumed | ||||||
Goodwill | 198 | |||||
EBU | ||||||
Assets acquired and liabilities assumed | ||||||
Goodwill | 97 | |||||
Inotera | Nanya and certain of its affiliates | ||||||
Acquisition of Inotera | ||||||
Percentage interest in Inotera held by Nanya immediately prior to acquisition (in hundredths) | 32.00% | |||||
Inotera | ||||||
Acquisition of Inotera | ||||||
Ownership interest in Inotera immediately prior to acquisition (in hundredths) | 33.00% | |||||
Percentage of Inotera voting interests acquired (in hundredths) | 67.00% | |||||
Transaction costs incurred in connection with acquisition of Inotera | 13 | $ 3 | ||||
Gain on remeasurement of previously-held equity interest in Inotera | $ 71 | |||||
Micron Shares | ||||||
Proceeds from issuance of stock to Nanya | $ 986 | |||||
Provisional Information, Initial Accounting Incomplete, Adjustments | ||||||
Provisional information adjustment, Property, plant, and equipment | (59) | |||||
Provisional information adjustment, Other noncurrent assets | 13 | |||||
Provisional information adjustment, Deferred tax assets | 8 | |||||
Goodwill purchase accounting adjustment | 38 | |||||
Consideration | ||||||
Cash paid for Inotera Acquisition | 4,099 | |||||
Less cash received from selling Micron Shares | (986) | |||||
Net cash paid for Inotera Acquisition | 3,113 | |||||
Fair value of our previously-held equity interest in Inotera | 1,441 | |||||
Fair value of Micron Shares exchanged for Inotera shares | 995 | |||||
Other | 3 | |||||
Payments attributed to intercompany balances with Inotera | (361) | |||||
Total fair value of consideration for Inotera including previously held equity interests | 5,191 | |||||
Assets acquired and liabilities assumed | ||||||
Cash and equivalents | 118 | |||||
Inventories | 285 | |||||
Other current assets | 27 | |||||
Property, plant, and equipment | 3,722 | |||||
Deferred tax assets | 82 | |||||
Goodwill | 1,124 | |||||
Other noncurrent assets | 130 | |||||
Accounts payable and accrued expenses | (232) | |||||
Debt | (56) | |||||
Other noncurrent liabilities | (9) | |||||
Total assets acquired and liabilities assumed, including goodwill | 5,191 | |||||
Inotera | CNBU | ||||||
Assets acquired and liabilities assumed | ||||||
Goodwill | 829 | |||||
Inotera | MBU | ||||||
Assets acquired and liabilities assumed | ||||||
Goodwill | 198 | |||||
Inotera | EBU | ||||||
Assets acquired and liabilities assumed | ||||||
Goodwill | $ 97 | |||||
Inotera | Level 3 | ||||||
Acquisition of Inotera | ||||||
Gain on remeasurement of previously-held equity interest in Inotera | $ 71 | |||||
Inotera | Shares Issued to Nanya | ||||||
Micron Shares | ||||||
Number of Micron Shares issued to Nanya as consideration for Inotera shares not already owned (in shares) | 58 | |||||
Proceeds from issuance of stock to Nanya | $ 986 | |||||
Consideration | ||||||
Less cash received from selling Micron Shares | (986) | |||||
Inotera | Shares Issued to Nanya | Level 2 | ||||||
Micron Shares | ||||||
Discount for lack of transferability on Micron Shares issued to Nanya | $ 81 |
Cash and Investments (Details) - USD ($) |
12 Months Ended | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
Aug. 28, 2014 |
||||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||||||
Cash and equivalents | $ 5,109,000,000 | $ 4,140,000,000 | |||||||||||
Short-term investments | 319,000,000 | 258,000,000 | |||||||||||
Long-term marketable investments | [1] | 617,000,000 | 414,000,000 | ||||||||||
Total fair value | 6,045,000,000 | 4,812,000,000 | |||||||||||
Restricted cash | [2] | 107,000,000 | 123,000,000 | ||||||||||
Cash, cash equivalents, and restricted cash | 5,216,000,000 | 4,263,000,000 | $ 2,375,000,000 | $ 4,234,000,000 | |||||||||
Available-for-sale Securities, Gross Realized Gain (Loss), Disclosures [Abstract] | |||||||||||||
Proceeds from sales of available-for-sale securities | 776,000,000 | 2,310,000,000 | $ 1,490,000,000 | ||||||||||
Available-for-sale securities in an unrealized loss position for longer than twelve months | $ 0 | ||||||||||||
Minimum | |||||||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||||||
Long-term marketable investments, general maturities (in years) | 1 year | ||||||||||||
Maximum | |||||||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||||||
Long-term marketable investments, general maturities (in years) | 4 years | ||||||||||||
Cash | |||||||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||||||
Cash and equivalents | $ 2,237,000,000 | 2,258,000,000 | |||||||||||
Short-term investments | 0 | 0 | |||||||||||
Long-term marketable investments | 0 | 0 | |||||||||||
Total fair value | 2,237,000,000 | 2,258,000,000 | |||||||||||
Money market funds | Level 1 | |||||||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||||||
Cash and equivalents | [3] | 2,332,000,000 | 1,507,000,000 | ||||||||||
Short-term investments | [3] | 0 | 0 | ||||||||||
Long-term marketable investments | [1],[3] | 0 | 0 | ||||||||||
Total fair value | [3] | 2,332,000,000 | 1,507,000,000 | ||||||||||
Certificates of deposit | Level 2 | |||||||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||||||
Cash and equivalents | [4] | 483,000,000 | 373,000,000 | ||||||||||
Short-term investments | [4] | 24,000,000 | 33,000,000 | ||||||||||
Long-term marketable investments | [1],[4] | 3,000,000 | 0 | ||||||||||
Total fair value | [4] | 510,000,000 | 406,000,000 | ||||||||||
Corporate bonds | Level 2 | |||||||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||||||
Cash and equivalents | [4] | 0 | 0 | ||||||||||
Short-term investments | [4] | 193,000,000 | 142,000,000 | ||||||||||
Long-term marketable investments | [1],[4] | 315,000,000 | 235,000,000 | ||||||||||
Total fair value | [4] | 508,000,000 | 377,000,000 | ||||||||||
Government securities | Level 2 | |||||||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||||||
Cash and equivalents | [4] | 1,000,000 | 2,000,000 | ||||||||||
Short-term investments | [4] | 90,000,000 | 62,000,000 | ||||||||||
Long-term marketable investments | [1],[4] | 126,000,000 | 82,000,000 | ||||||||||
Total fair value | [4] | 217,000,000 | 146,000,000 | ||||||||||
Asset-backed securities | Level 2 | |||||||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||||||
Cash and equivalents | [4] | 0 | 0 | ||||||||||
Short-term investments | [4] | 2,000,000 | 12,000,000 | ||||||||||
Long-term marketable investments | [1],[4] | 173,000,000 | 97,000,000 | ||||||||||
Total fair value | [4] | 175,000,000 | 109,000,000 | ||||||||||
Commercial paper | Level 2 | |||||||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||||||
Cash and equivalents | [4] | 56,000,000 | 0 | ||||||||||
Short-term investments | [4] | 10,000,000 | 9,000,000 | ||||||||||
Long-term marketable investments | [1],[4] | 0 | 0 | ||||||||||
Total fair value | [4] | $ 66,000,000 | $ 9,000,000 | ||||||||||
|
Receivables (Details) - USD ($) $ in Millions |
Aug. 31, 2017 |
Sep. 01, 2016 |
---|---|---|
Receivables [Abstract] | ||
Trade receivables | $ 3,490 | $ 1,765 |
Income and other taxes | 100 | 119 |
Other | 169 | 184 |
Receivables | $ 3,759 | $ 2,068 |
Inventories (Details) - USD ($) $ in Millions |
Aug. 31, 2017 |
Sep. 01, 2016 |
---|---|---|
Inventory, Net, Items Net of Reserve Alternative [Abstract] | ||
Finished goods | $ 856 | $ 899 |
Work in process | 1,968 | 1,761 |
Raw materials and supplies | 299 | 229 |
Inventories | $ 3,123 | $ 2,889 |
Property, Plant, and Equipment (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|---|---|
Sep. 01, 2016 |
Jun. 02, 2016 |
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
||||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||||||||
Gross property, plant, and equipment | $ 33,605 | $ 41,533 | $ 33,605 | |||||||
Accumulated depreciation | (18,919) | (22,102) | (18,919) | |||||||
Property, plant, and equipment, net | 14,686 | 19,431 | 14,686 | |||||||
Capital Leases, Balance Sheet, Assets by Major Class, Net [Abstract] | ||||||||||
Capital leases, accumulated depreciation | (492) | (626) | (492) | |||||||
Depreciation [Abstract] | ||||||||||
Depreciation expense | 3,760 | 2,860 | $ 2,550 | |||||||
Capitalized Interest Costs, Including Allowance for Funds Used During Construction [Abstract] | ||||||||||
Interest capitalized as part of the cost of property, plant, and equipment | 7 | 43 | $ 20 | |||||||
Property, Plant, and Equipment | ||||||||||
Debt Instruments [Abstract] | ||||||||||
Debt instrument, collateral amount of production equipment, buildings, and land | 6,140 | |||||||||
Land | ||||||||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||||||||
Gross property, plant, and equipment | 145 | 345 | 145 | |||||||
Buildings | ||||||||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||||||||
Gross property, plant, and equipment | 6,653 | 7,958 | 6,653 | |||||||
Capital Leases, Balance Sheet, Assets by Major Class, Net [Abstract] | ||||||||||
Capital leased assets, gross | 347 | 475 | 347 | |||||||
Equipment | ||||||||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||||||||
Gross property, plant, and equipment | [1] | 25,910 | 32,187 | 25,910 | ||||||
Capital Leases, Balance Sheet, Assets by Major Class, Net [Abstract] | ||||||||||
Capital leased assets, gross | $ 1,374 | 1,331 | 1,374 | |||||||
DRAM fabrication equipment | Service Life | ||||||||||
Change in Accounting Estimate [Abstract] | ||||||||||
Property, plant, and equipment useful life (in years) | 7 years | 5 years | ||||||||
Quarterly depreciation credit from change in useful life | (100) | |||||||||
Equipment not placed into service | ||||||||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||||||||
Gross property, plant, and equipment | $ 1,470 | 994 | 1,470 | |||||||
Construction in progress | ||||||||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||||||||
Gross property, plant, and equipment | [2] | 475 | 499 | 475 | ||||||
Software | ||||||||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||||||||
Gross property, plant, and equipment | $ 422 | $ 544 | $ 422 | |||||||
|
Equity Method Investments (Details) - USD ($) $ in Millions |
12 Months Ended | ||||
---|---|---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
Dec. 06, 2016 |
Dec. 05, 2016 |
|
Schedule of Equity Method Investments [Line Items] | |||||
Investment Balance | $ 16 | $ 1,364 | |||
Equity in net income (loss) of equity method investees, net of tax | 8 | 25 | $ 447 | ||
Equity Method Investment, Summarized Financial Information, Assets [Abstract] | |||||
Current assets | 107 | 1,222 | |||
Noncurrent assets | 256 | 4,294 | |||
Equity Method Investment, Summarized Financial Information, Liabilities [Abstract] | |||||
Current liabilities | 19 | 604 | |||
Noncurrent liabilities | 66 | 411 | |||
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract] | |||||
Net sales | 557 | 1,671 | 2,647 | ||
Gross margin | 82 | 155 | 1,253 | ||
Operating income | 126 | 199 | 1,191 | ||
Net income | 76 | 184 | 1,361 | ||
Inotera | |||||
Business Combination, Step Acquisition [Abstract] | |||||
Ownership interest in Inotera immediately prior to acquisition (in hundredths) | 33.00% | ||||
Percentage of Inotera voting interests acquired (in hundredths) | 67.00% | ||||
Inotera | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Investment Balance | $ 0 | $ 1,314 | |||
Ownership Percentage (in hundredths) | 0.00% | 33.00% | |||
Equity in net income (loss) of equity method investees, net of tax | $ 9 | $ 32 | 445 | ||
Tera Probe | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Investment Balance | $ 0 | $ 36 | |||
Ownership Percentage (in hundredths) | 0.00% | 40.00% | |||
Equity in net income (loss) of equity method investees, net of tax | $ (3) | $ (11) | 1 | ||
Business Combination, Step Acquisition [Abstract] | |||||
Tera Probe investment disposed of during 2017 | 40.00% | ||||
Tera Probe | Level 1 | |||||
Business Combination, Step Acquisition [Abstract] | |||||
Other than temporary impairment in Tera Probe | $ 16 | 25 | 10 | ||
Other | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Investment Balance | 16 | 14 | |||
Equity in net income (loss) of equity method investees, net of tax | $ 2 | $ 4 | $ 1 |
Equity Method Investments - 2 (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Dec. 05, 2016 |
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Inotera | ||||
Related Party Transaction [Line Items] | ||||
Purchases of DRAM products from Inotera | $ 504 | $ 1,430 | $ 2,370 | |
Revenue from sales of specialized equipment to Inotera | 55 | |||
Margin recognized from sales of specialized equipment sold to Inotera | 16 | |||
Tera Probe | ||||
Related Party Transaction [Line Items] | ||||
Related party purchases from Tera Probe | $ 47 | $ 70 | $ 90 |
Intangible Assets and Goodwill - Intangible Assets (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Amortizing assets [Line Items] | |||
Gross Amount, Amortizing assets | $ 756 | $ 758 | |
Accumulated Amortization | (477) | (402) | |
Amortization expense for intangible assets | 106 | 117 | $ 117 |
Annual amortization expense for intangible assets [Abstract] | |||
2018 | 99 | ||
2019 | 49 | ||
2020 | 33 | ||
2021 | 28 | ||
2022 | 17 | ||
Intangible Assets, Net (Including Goodwill) [Abstract] | |||
Intangible Assets, Gross (Excluding Goodwill) | 864 | 866 | |
Goodwill | 1,228 | 104 | |
In-process R&D | |||
Non-amortizing assets [Line Items] | |||
Gross Amount, Non-amortizing assets | 108 | 108 | |
Product and process technology | |||
Amortizing assets [Line Items] | |||
Gross Amount, Amortizing assets | 755 | 757 | |
Accumulated Amortization | (476) | (402) | |
Product and process technology intangible asset capitalized during period | $ 29 | $ 30 | $ 98 |
Product and process technology intangible asset capitalized during period, weighted-average useful lives (in years) | 11 years | 10 years | 7 years |
Other | |||
Amortizing assets [Line Items] | |||
Gross Amount, Amortizing assets | $ 1 | $ 1 | |
Accumulated Amortization | $ (1) | $ 0 |
Intangible Assets and Goodwill - Tidal Acquisition (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Sep. 01, 2016 |
Aug. 31, 2017 |
|
Business Acquisition [Line Items] | ||
Goodwill recognized in acquisition | $ 104 | $ 1,228 |
SBU | ||
Business Acquisition [Line Items] | ||
Goodwill recognized in acquisition | 101 | $ 101 |
Tidal Systems, Ltd. | ||
Business Acquisition [Line Items] | ||
Payments to acquire Tidal | 148 | |
Deferred tax liabilities recognized in Tidal acquisition | 41 | |
Tidal Systems, Ltd. | SBU | ||
Business Acquisition [Line Items] | ||
Goodwill recognized in acquisition | 81 | |
Tidal Systems, Ltd. | In-process R&D | ||
Business Acquisition [Line Items] | ||
In-process R&D recognized in Tidal acquisition | $ 108 |
Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Millions |
Aug. 31, 2017 |
Sep. 01, 2016 |
---|---|---|
Accounts Payable and Accrued Liabilities, Current [Abstract] | ||
Accounts payable | $ 1,333 | $ 1,186 |
Property, plant, and equipment payables | 1,018 | 1,649 |
Salaries, wages, and benefits | 603 | 289 |
Related party payables | 0 | 273 |
Customer advances | 197 | 132 |
Income and other taxes | 163 | 41 |
Other | 350 | 309 |
Total accounts payable and accrued expenses | $ 3,664 | 3,879 |
Inotera | ||
Accounts Payable and Accrued Liabilities, Current [Abstract] | ||
Related party payables | $ 266 |
Debt - Schedule of Long-term Debt (Details) $ / shares in Units, shares in Millions, $ in Millions, TWD in Billions |
5 Months Ended | 7 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 06, 2016
TWD
|
Aug. 31, 2017
USD ($)
payment
$ / shares
|
Oct. 31, 2016 |
Aug. 31, 2017
USD ($)
payment
shares
d
$ / shares
|
Sep. 01, 2016
USD ($)
|
Sep. 03, 2015
USD ($)
|
Aug. 31, 2017
TWD
payment
|
Apr. 30, 2016
USD ($)
|
|||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Principal | $ 11,639 | $ 11,639 | $ 10,551 | |||||||||||||||||||||||||||||||
Current debt | 1,262 | 1,262 | 756 | |||||||||||||||||||||||||||||||
Long-term debt | 9,872 | 9,872 | 9,154 | |||||||||||||||||||||||||||||||
Net Carrying Amount | [1] | $ 11,134 | 11,134 | 9,910 | ||||||||||||||||||||||||||||||
Leases, Capital [Abstract] | ||||||||||||||||||||||||||||||||||
Proceeds from equipment sale-leaseback transactions | 0 | 765 | $ 291 | |||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 3,311 | 2,199 | 2,212 | |||||||||||||||||||||||||||||||
Convertible Debt [Abstract] | ||||||||||||||||||||||||||||||||||
Share Price (in dollars per share) | $ / shares | $ 31.97 | $ 31.97 | ||||||||||||||||||||||||||||||||
Interest Costs Incurred [Abstract] | ||||||||||||||||||||||||||||||||||
Amortization of debt discount and issuance costs | $ 125 | 126 | 138 | |||||||||||||||||||||||||||||||
Micron Technology, Inc. | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Current debt | $ 530 | 530 | 75 | |||||||||||||||||||||||||||||||
Long-term debt | 5,320 | 5,320 | 7,313 | |||||||||||||||||||||||||||||||
Net Carrying Amount | 5,850 | 5,850 | 7,388 | |||||||||||||||||||||||||||||||
Subordinated Debt | $ 3,700 | 3,700 | ||||||||||||||||||||||||||||||||
Leases, Capital [Abstract] | ||||||||||||||||||||||||||||||||||
Proceeds from equipment sale-leaseback transactions | 0 | 216 | 0 | |||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 0 | 1,993 | 2,050 | |||||||||||||||||||||||||||||||
2021 MSTW Term Loan | Micron Semiconductor Taiwan Co. Ltd. | Equity Securities | ||||||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Equity interest in MTTW pledged as collateral | 82.00% | |||||||||||||||||||||||||||||||||
Reorganization obligation | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 6.52% | 6.52% | 6.52% | |||||||||||||||||||||||||||||||
Principal | $ 695 | $ 695 | 985 | |||||||||||||||||||||||||||||||
Current debt | 157 | 157 | 189 | |||||||||||||||||||||||||||||||
Long-term debt | 474 | 474 | 680 | |||||||||||||||||||||||||||||||
Net Carrying Amount | [1] | 631 | 631 | 869 | ||||||||||||||||||||||||||||||
Capital lease obligations | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Principal | 1,190 | 1,190 | 1,406 | |||||||||||||||||||||||||||||||
Current debt | 357 | 357 | 380 | |||||||||||||||||||||||||||||||
Long-term debt | 833 | 833 | 1,026 | |||||||||||||||||||||||||||||||
Net Carrying Amount | [1] | $ 1,190 | 1,190 | 1,406 | ||||||||||||||||||||||||||||||
Leases, Capital [Abstract] | ||||||||||||||||||||||||||||||||||
Capital lease obligations incurred | $ 220 | 882 | ||||||||||||||||||||||||||||||||
Proceeds from equipment sale-leaseback transactions | 765 | |||||||||||||||||||||||||||||||||
Capital lease obligations | Weighted Average | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 3.68% | 3.68% | 3.68% | |||||||||||||||||||||||||||||||
Leases, Capital [Abstract] | ||||||||||||||||||||||||||||||||||
Weighted-average effective interest rate | 5.10% | |||||||||||||||||||||||||||||||||
Original term | 10 years | |||||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Original term | 10 years | |||||||||||||||||||||||||||||||||
Capital lease obligations | Micron Technology, Inc. | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Current debt | $ 45 | $ 45 | 70 | |||||||||||||||||||||||||||||||
Long-term debt | 126 | 126 | 171 | |||||||||||||||||||||||||||||||
Net Carrying Amount | $ 171 | $ 171 | 241 | |||||||||||||||||||||||||||||||
Capital lease obligations | Micron Technology, Inc. | Weighted Average | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 3.34% | 3.34% | 3.34% | |||||||||||||||||||||||||||||||
Secured Debt | 2021 MSAC Term Loan | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Principal | $ 800 | $ 800 | 0 | |||||||||||||||||||||||||||||||
Current debt | 99 | 99 | 0 | |||||||||||||||||||||||||||||||
Long-term debt | 697 | 697 | 0 | |||||||||||||||||||||||||||||||
Net Carrying Amount | [1] | 796 | $ 796 | 0 | ||||||||||||||||||||||||||||||
Leases, Capital [Abstract] | ||||||||||||||||||||||||||||||||||
Original term | 5 years | |||||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Original term | 5 years | |||||||||||||||||||||||||||||||||
Line of credit facility, Maximum borrowing capacity | $ 800 | $ 800 | ||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 800 | |||||||||||||||||||||||||||||||||
Debt instruments number of periodic payments | payment | 16 | 16 | 16 | |||||||||||||||||||||||||||||||
Secured Debt | 2021 MSAC Term Loan | Weighted Average | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 3.61% | 3.61% | 3.61% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 3.85% | 3.85% | 3.85% | |||||||||||||||||||||||||||||||
Secured Debt | 2021 MSAC Term Loan | LIBOR | ||||||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Debt Instrument Variable Reference Rate Period 1 | 3 months | |||||||||||||||||||||||||||||||||
Margin on variable rate financing (in hundredths) | 2.40% | |||||||||||||||||||||||||||||||||
Secured Debt [Abstract] | ||||||||||||||||||||||||||||||||||
Margin on variable rate financing | 2.40% | |||||||||||||||||||||||||||||||||
Secured Debt | 2021 MSTW Term Loan | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 2.85% | 2.85% | 2.85% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 3.02% | 3.02% | 3.02% | |||||||||||||||||||||||||||||||
Principal | $ 2,652 | $ 2,652 | 0 | |||||||||||||||||||||||||||||||
Current debt | 0 | 0 | 0 | |||||||||||||||||||||||||||||||
Long-term debt | 2,640 | 2,640 | 0 | |||||||||||||||||||||||||||||||
Net Carrying Amount | [1] | $ 2,640 | $ 2,640 | 0 | ||||||||||||||||||||||||||||||
Leases, Capital [Abstract] | ||||||||||||||||||||||||||||||||||
Original term | 5 years | |||||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Original term | 5 years | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | TWD | TWD 80.0 | |||||||||||||||||||||||||||||||||
Debt instruments number of periodic payments | payment | 6 | 6 | 6 | |||||||||||||||||||||||||||||||
Debt Instrument, Covenant Compliance, Penalty Interest Percent | 0.25% | 0.25% | 0.25% | |||||||||||||||||||||||||||||||
Secured Debt | 2021 MSTW Term Loan | Minimum | Debt Covenant Period 2017 | ||||||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Debt Instrument, Covenant, Tangible Net Worth | $ 9,000 | $ 9,000 | ||||||||||||||||||||||||||||||||
Secured Debt | 2021 MSTW Term Loan | Minimum | Debt Covenant Period 2018_2019 | ||||||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Debt Instrument, Covenant, Tangible Net Worth | 12,500 | 12,500 | ||||||||||||||||||||||||||||||||
Secured Debt | 2021 MSTW Term Loan | Minimum | Debt Covenant Period 2020_2021 | ||||||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Debt Instrument, Covenant, Tangible Net Worth | $ 16,500 | $ 16,500 | ||||||||||||||||||||||||||||||||
Secured Debt | 2021 MSTW Term Loan | Maximum | Debt Covenant Period 2017 | ||||||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Debt Instrument, Covenant, Ratio Of Total Liabilities To Adjusted EBITDA | 3.5 | 3.5 | 3.5 | |||||||||||||||||||||||||||||||
Secured Debt | 2021 MSTW Term Loan | Maximum | Debt Covenant Period 2018_2019 | ||||||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Debt Instrument, Covenant, Ratio Of Total Liabilities To Adjusted EBITDA | 3.0 | 3.0 | 3.0 | |||||||||||||||||||||||||||||||
Secured Debt | 2021 MSTW Term Loan | Maximum | Debt Covenant Period 2020_2021 | ||||||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Debt Instrument, Covenant, Ratio Of Total Liabilities To Adjusted EBITDA | 2.5 | 2.5 | 2.5 | |||||||||||||||||||||||||||||||
Secured Debt | 2021 MSTW Term Loan | TAIBOR | ||||||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Debt Instrument Variable Reference Rate Period 1 | 3 months | |||||||||||||||||||||||||||||||||
Margin on variable rate financing (in hundredths) | 2.05% | |||||||||||||||||||||||||||||||||
Secured Debt [Abstract] | ||||||||||||||||||||||||||||||||||
Margin on variable rate financing | 2.05% | |||||||||||||||||||||||||||||||||
Secured Debt | 2021 MSTW Term Loan | Micron Semiconductor Taiwan Co. Ltd. | Minimum | Debt Covenant Period 2017_2018 | ||||||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Debt Instrument, Covenant, Tangible Net Worth | TWD | TWD 4.0 | |||||||||||||||||||||||||||||||||
Secured Debt | 2021 MSTW Term Loan | Micron Semiconductor Taiwan Co. Ltd. | Minimum | Debt Covenant Period 2019_2020 | ||||||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Debt Instrument, Covenant, Tangible Net Worth | TWD | 6.5 | |||||||||||||||||||||||||||||||||
Secured Debt | 2021 MSTW Term Loan | Micron Semiconductor Taiwan Co. Ltd. | Minimum | Debt Covenant Period 2021 | ||||||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Debt Instrument, Covenant, Tangible Net Worth | TWD | TWD 12.0 | |||||||||||||||||||||||||||||||||
Secured Debt | 2021 MSTW Term Loan | Micron Semiconductor Taiwan Co. Ltd. | Maximum | Debt Covenant Period 2017_2018 | ||||||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Debt Instrument, Covenant, Ratio Of Total Liabilities To Adjusted EBITDA | 5.5 | 5.5 | 5.5 | |||||||||||||||||||||||||||||||
Secured Debt | 2021 MSTW Term Loan | Micron Semiconductor Taiwan Co. Ltd. | Maximum | Debt Covenant Period 2019_2021 | ||||||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Debt Instrument, Covenant, Ratio Of Total Liabilities To Adjusted EBITDA | 4.5 | 4.5 | 4.5 | |||||||||||||||||||||||||||||||
Secured Debt | 2022 Term Loan B | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 3.80% | 3.80% | 3.80% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 4.22% | 4.22% | 4.22% | |||||||||||||||||||||||||||||||
Principal | $ 743 | $ 743 | 750 | |||||||||||||||||||||||||||||||
Current debt | 5 | 5 | 5 | |||||||||||||||||||||||||||||||
Long-term debt | 725 | 725 | 730 | |||||||||||||||||||||||||||||||
Net Carrying Amount | [1] | $ 730 | $ 730 | 735 | ||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 750 | |||||||||||||||||||||||||||||||||
Secured Debt [Abstract] | ||||||||||||||||||||||||||||||||||
Debt Instrument, Quarterly Principal Amortization Percentage | 0.25% | |||||||||||||||||||||||||||||||||
Secured Debt | 2022 Term Loan B | LIBOR | ||||||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Margin on variable rate financing (in hundredths) | 2.50% | 6.00% | ||||||||||||||||||||||||||||||||
Secured Debt [Abstract] | ||||||||||||||||||||||||||||||||||
Margin on variable rate financing | 2.50% | 6.00% | ||||||||||||||||||||||||||||||||
Secured Debt | 2022 Term Loan B | Micron Technology, Inc. | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 3.80% | 3.80% | 3.80% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 4.22% | 4.22% | 4.22% | |||||||||||||||||||||||||||||||
Current debt | $ 5 | $ 5 | 5 | |||||||||||||||||||||||||||||||
Long-term debt | 725 | 725 | 730 | |||||||||||||||||||||||||||||||
Net Carrying Amount | $ 730 | $ 730 | 735 | |||||||||||||||||||||||||||||||
Secured Debt | 2023 Secured Notes | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 7.50% | 7.50% | 7.50% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 7.69% | 7.69% | 7.69% | |||||||||||||||||||||||||||||||
Principal | $ 1,250 | $ 1,250 | 1,250 | |||||||||||||||||||||||||||||||
Current debt | 0 | 0 | 0 | |||||||||||||||||||||||||||||||
Long-term debt | 1,238 | 1,238 | 1,237 | |||||||||||||||||||||||||||||||
Net Carrying Amount | [1] | $ 1,238 | $ 1,238 | 1,237 | ||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 1,250 | |||||||||||||||||||||||||||||||||
Secured Debt | 2023 Secured Notes | Micron Technology, Inc. | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 7.50% | 7.50% | 7.50% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 7.69% | 7.69% | 7.69% | |||||||||||||||||||||||||||||||
Current debt | $ 0 | $ 0 | 0 | |||||||||||||||||||||||||||||||
Long-term debt | 1,238 | 1,238 | 1,237 | |||||||||||||||||||||||||||||||
Net Carrying Amount | 1,238 | 1,238 | 1,237 | |||||||||||||||||||||||||||||||
Secured Debt | Secured Notes 2022 TLB and 2023 Senior Secured Notes | ||||||||||||||||||||||||||||||||||
Secured Debt [Abstract] | ||||||||||||||||||||||||||||||||||
Debt Instrument, Collateral Amount | 6,220 | 6,220 | ||||||||||||||||||||||||||||||||
Secured Debt | Secured Notes 2022 TLB and 2023 Senior Secured Notes | Micron Technology, Inc. | ||||||||||||||||||||||||||||||||||
Secured Debt [Abstract] | ||||||||||||||||||||||||||||||||||
Debt Instrument, Collateral Amount | $ 8,360 | $ 8,360 | ||||||||||||||||||||||||||||||||
Corporate bonds | ||||||||||||||||||||||||||||||||||
Unsecured Debt [Abstract] | ||||||||||||||||||||||||||||||||||
Debt Instrument, Domestic Restricted Subsidiaries, Ownership Percentage by Parent | 80.00% | 80.00% | 80.00% | |||||||||||||||||||||||||||||||
Corporate bonds | Minimum | ||||||||||||||||||||||||||||||||||
Unsecured Debt [Abstract] | ||||||||||||||||||||||||||||||||||
Debt Instrument Redemption Required Percentage Outstanding To Be Redemmable Using Equity Proceeds | 65.00% | |||||||||||||||||||||||||||||||||
Corporate bonds | Maximum | ||||||||||||||||||||||||||||||||||
Unsecured Debt [Abstract] | ||||||||||||||||||||||||||||||||||
Percentage of Principal Amount Redeemable Using Equity Offering Proceeds | 35.00% | |||||||||||||||||||||||||||||||||
Corporate bonds | 2022 Notes | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 5.88% | 5.88% | 5.88% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 6.14% | 6.14% | 6.14% | |||||||||||||||||||||||||||||||
Principal | $ 0 | $ 0 | 600 | |||||||||||||||||||||||||||||||
Current debt | 0 | 0 | 0 | |||||||||||||||||||||||||||||||
Long-term debt | 0 | 0 | 590 | |||||||||||||||||||||||||||||||
Net Carrying Amount | [1] | $ 0 | $ 0 | 590 | ||||||||||||||||||||||||||||||
Corporate bonds | 2022 Notes | Micron Technology, Inc. | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 5.88% | 5.88% | 5.88% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 6.14% | 6.14% | 6.14% | |||||||||||||||||||||||||||||||
Current debt | $ 0 | $ 0 | 0 | |||||||||||||||||||||||||||||||
Long-term debt | 0 | 0 | 590 | |||||||||||||||||||||||||||||||
Net Carrying Amount | $ 0 | $ 0 | 590 | |||||||||||||||||||||||||||||||
Corporate bonds | 2023 Notes | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 5.25% | 5.25% | 5.25% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 5.43% | 5.43% | 5.43% | |||||||||||||||||||||||||||||||
Principal | $ 1,000 | $ 1,000 | 1,000 | |||||||||||||||||||||||||||||||
Current debt | 0 | 0 | 0 | |||||||||||||||||||||||||||||||
Long-term debt | 991 | 991 | 990 | |||||||||||||||||||||||||||||||
Net Carrying Amount | [1] | $ 991 | $ 991 | 990 | ||||||||||||||||||||||||||||||
Unsecured Debt [Abstract] | ||||||||||||||||||||||||||||||||||
Debt Instrument, Redemption Price, Percentage | [2],[3] | 105.25% | ||||||||||||||||||||||||||||||||
Corporate bonds | 2023 Notes | Micron Technology, Inc. | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 5.25% | 5.25% | 5.25% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 5.43% | 5.43% | 5.43% | |||||||||||||||||||||||||||||||
Current debt | $ 0 | $ 0 | 0 | |||||||||||||||||||||||||||||||
Long-term debt | 991 | 991 | 990 | |||||||||||||||||||||||||||||||
Net Carrying Amount | $ 991 | $ 991 | 990 | |||||||||||||||||||||||||||||||
Corporate bonds | 2024 Notes | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 5.25% | 5.25% | 5.25% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 5.38% | 5.38% | 5.38% | |||||||||||||||||||||||||||||||
Principal | $ 550 | $ 550 | 550 | |||||||||||||||||||||||||||||||
Current debt | 0 | 0 | 0 | |||||||||||||||||||||||||||||||
Long-term debt | 546 | 546 | 546 | |||||||||||||||||||||||||||||||
Net Carrying Amount | [1] | $ 546 | $ 546 | 546 | ||||||||||||||||||||||||||||||
Unsecured Debt [Abstract] | ||||||||||||||||||||||||||||||||||
Debt Instrument, Redemption Price, Percentage | [2] | 105.25% | ||||||||||||||||||||||||||||||||
Corporate bonds | 2024 Notes | Micron Technology, Inc. | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 5.25% | 5.25% | 5.25% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 5.38% | 5.38% | 5.38% | |||||||||||||||||||||||||||||||
Current debt | $ 0 | $ 0 | 0 | |||||||||||||||||||||||||||||||
Long-term debt | 546 | 546 | 546 | |||||||||||||||||||||||||||||||
Net Carrying Amount | $ 546 | $ 546 | 546 | |||||||||||||||||||||||||||||||
Corporate bonds | 2025 Notes | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 5.50% | 5.50% | 5.50% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 5.56% | 5.56% | 5.56% | |||||||||||||||||||||||||||||||
Principal | $ 519 | $ 519 | 1,150 | |||||||||||||||||||||||||||||||
Current debt | 0 | 0 | 0 | |||||||||||||||||||||||||||||||
Long-term debt | 515 | 515 | 1,139 | |||||||||||||||||||||||||||||||
Net Carrying Amount | [1] | $ 515 | $ 515 | 1,139 | ||||||||||||||||||||||||||||||
Corporate bonds | 2025 Notes | Micron Technology, Inc. | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 5.50% | 5.50% | 5.50% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 5.56% | 5.56% | 5.56% | |||||||||||||||||||||||||||||||
Current debt | $ 0 | $ 0 | 0 | |||||||||||||||||||||||||||||||
Long-term debt | 515 | 515 | 1,139 | |||||||||||||||||||||||||||||||
Net Carrying Amount | $ 515 | $ 515 | 1,139 | |||||||||||||||||||||||||||||||
Corporate bonds | 2026 Notes | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 5.63% | 5.63% | 5.63% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 5.73% | 5.73% | 5.73% | |||||||||||||||||||||||||||||||
Principal | $ 129 | $ 129 | 450 | |||||||||||||||||||||||||||||||
Current debt | 0 | 0 | 0 | |||||||||||||||||||||||||||||||
Long-term debt | 128 | 128 | 446 | |||||||||||||||||||||||||||||||
Net Carrying Amount | [1] | $ 128 | $ 128 | 446 | ||||||||||||||||||||||||||||||
Corporate bonds | 2026 Notes | Micron Technology, Inc. | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 5.63% | 5.63% | 5.63% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 5.73% | 5.73% | 5.73% | |||||||||||||||||||||||||||||||
Current debt | $ 0 | $ 0 | 0 | |||||||||||||||||||||||||||||||
Long-term debt | 128 | 128 | 446 | |||||||||||||||||||||||||||||||
Net Carrying Amount | 128 | $ 128 | 446 | |||||||||||||||||||||||||||||||
Convertible Debt | ||||||||||||||||||||||||||||||||||
Convertible Debt [Abstract] | ||||||||||||||||||||||||||||||||||
Underlying Shares (in shares) | shares | 119 | |||||||||||||||||||||||||||||||||
Conversion Value in Excess of Principal | [4],[5] | $ 1,912 | ||||||||||||||||||||||||||||||||
Conversion rights, threshold percentage of applicable conversion price (in hundredths) | 130.00% | |||||||||||||||||||||||||||||||||
Conversion rights, minimum number of trading days (in days) | d | 20 | |||||||||||||||||||||||||||||||||
Conversion rights, consecutive trading period (in days) | d | 30 | |||||||||||||||||||||||||||||||||
Conversion rights, maximum percentage of product of stock price and conversion rate (in hundredths) | 98.00% | |||||||||||||||||||||||||||||||||
Interest Costs Incurred [Abstract] | ||||||||||||||||||||||||||||||||||
Contractual interest expense | $ 51 | 51 | 59 | |||||||||||||||||||||||||||||||
Amortization of debt discount and issuance costs | 37 | 36 | $ 42 | |||||||||||||||||||||||||||||||
Equity component of convertible debt included in additional paid in capital | $ 287 | $ 287 | 308 | |||||||||||||||||||||||||||||||
Convertible Debt | Micron Technology, Inc. | ||||||||||||||||||||||||||||||||||
Convertible Debt [Abstract] | ||||||||||||||||||||||||||||||||||
Conversion rights, threshold percentage of applicable conversion price (in hundredths) | 130.00% | |||||||||||||||||||||||||||||||||
Conversion rights, minimum number of trading days (in days) | d | 20 | |||||||||||||||||||||||||||||||||
Conversion rights, consecutive trading period (in days) | d | 30 | |||||||||||||||||||||||||||||||||
Convertible Debt | 2032C Notes | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 2.38% | 2.38% | 2.38% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 5.95% | 5.95% | 5.95% | |||||||||||||||||||||||||||||||
Principal | $ 223 | $ 223 | 223 | |||||||||||||||||||||||||||||||
Current debt | 0 | [6] | 0 | [6] | 0 | [7] | ||||||||||||||||||||||||||||
Long-term debt | 211 | [6] | 211 | [6] | 204 | [7] | ||||||||||||||||||||||||||||
Net Carrying Amount | [1] | $ 211 | $ 211 | 204 | ||||||||||||||||||||||||||||||
Convertible Debt [Abstract] | ||||||||||||||||||||||||||||||||||
Conversion Price Per Share | $ / shares | $ 9.63 | $ 9.63 | ||||||||||||||||||||||||||||||||
Conversion Price Per Share Threshold (dollars per share) | $ / shares | [8] | $ 12.52 | ||||||||||||||||||||||||||||||||
Underlying Shares (in shares) | shares | 23 | |||||||||||||||||||||||||||||||||
Conversion Value in Excess of Principal | [4],[5] | $ 519 | ||||||||||||||||||||||||||||||||
Convertible Debt | 2032C Notes | Micron Technology, Inc. | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 2.38% | 2.38% | 2.38% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 5.95% | 5.95% | 5.95% | |||||||||||||||||||||||||||||||
Current debt | [7] | $ 0 | $ 0 | 0 | ||||||||||||||||||||||||||||||
Long-term debt | [7] | 211 | 211 | 204 | ||||||||||||||||||||||||||||||
Net Carrying Amount | [7] | $ 211 | $ 211 | 204 | ||||||||||||||||||||||||||||||
Convertible Debt | 2032D Notes | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 3.13% | 3.13% | 3.13% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 6.33% | 6.33% | 6.33% | |||||||||||||||||||||||||||||||
Principal | $ 177 | $ 177 | 177 | |||||||||||||||||||||||||||||||
Current debt | 0 | [6] | 0 | [6] | 0 | [7] | ||||||||||||||||||||||||||||
Long-term debt | 159 | [6] | 159 | [6] | 154 | [7] | ||||||||||||||||||||||||||||
Net Carrying Amount | [1] | $ 159 | $ 159 | 154 | ||||||||||||||||||||||||||||||
Convertible Debt [Abstract] | ||||||||||||||||||||||||||||||||||
Conversion Price Per Share | $ / shares | $ 9.98 | $ 9.98 | ||||||||||||||||||||||||||||||||
Conversion Price Per Share Threshold (dollars per share) | $ / shares | [8] | $ 12.97 | ||||||||||||||||||||||||||||||||
Underlying Shares (in shares) | shares | 18 | |||||||||||||||||||||||||||||||||
Conversion Value in Excess of Principal | [4],[5] | $ 390 | ||||||||||||||||||||||||||||||||
Convertible Debt | 2032D Notes | Micron Technology, Inc. | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 3.13% | 3.13% | 3.13% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 6.33% | 6.33% | 6.33% | |||||||||||||||||||||||||||||||
Current debt | [7] | $ 0 | $ 0 | 0 | ||||||||||||||||||||||||||||||
Long-term debt | [7] | 159 | 159 | 154 | ||||||||||||||||||||||||||||||
Net Carrying Amount | [7] | $ 159 | $ 159 | 154 | ||||||||||||||||||||||||||||||
Convertible Debt | 2033E Notes | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 1.63% | 1.63% | 1.63% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 4.50% | 4.50% | 4.50% | |||||||||||||||||||||||||||||||
Principal | $ 173 | $ 173 | 176 | |||||||||||||||||||||||||||||||
Current debt | [6] | 202 | 202 | 0 | ||||||||||||||||||||||||||||||
Long-term debt | [6] | 0 | 0 | 168 | ||||||||||||||||||||||||||||||
Net Carrying Amount | [1] | $ 202 | $ 202 | 168 | ||||||||||||||||||||||||||||||
Convertible Debt [Abstract] | ||||||||||||||||||||||||||||||||||
Conversion Price Per Share | $ / shares | $ 10.93 | $ 10.93 | ||||||||||||||||||||||||||||||||
Conversion Price Per Share Threshold (dollars per share) | $ / shares | [8] | $ 14.21 | ||||||||||||||||||||||||||||||||
Underlying Shares (in shares) | shares | 16 | |||||||||||||||||||||||||||||||||
Conversion Value in Excess of Principal | [4],[5] | $ 332 | ||||||||||||||||||||||||||||||||
Convertible Debt | 2033E Notes | Micron Technology, Inc. | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 1.63% | 1.63% | 1.63% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 4.50% | 4.50% | 4.50% | |||||||||||||||||||||||||||||||
Current debt | [7] | $ 202 | [9] | $ 202 | [9] | 0 | ||||||||||||||||||||||||||||
Long-term debt | [7] | 0 | [9] | 0 | [9] | 168 | ||||||||||||||||||||||||||||
Net Carrying Amount | [7] | $ 202 | [9] | $ 202 | [9] | 168 | ||||||||||||||||||||||||||||
Convertible Debt | 2033F Notes | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 2.13% | 2.13% | 2.13% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 4.93% | 4.93% | 4.93% | |||||||||||||||||||||||||||||||
Principal | $ 297 | $ 297 | 297 | |||||||||||||||||||||||||||||||
Current debt | [6] | 278 | 278 | 0 | ||||||||||||||||||||||||||||||
Long-term debt | [6] | 0 | 0 | 271 | ||||||||||||||||||||||||||||||
Net Carrying Amount | [1] | $ 278 | $ 278 | 271 | ||||||||||||||||||||||||||||||
Convertible Debt [Abstract] | ||||||||||||||||||||||||||||||||||
Conversion Price Per Share | $ / shares | $ 10.93 | $ 10.93 | ||||||||||||||||||||||||||||||||
Conversion Price Per Share Threshold (dollars per share) | $ / shares | [8] | $ 14.21 | ||||||||||||||||||||||||||||||||
Underlying Shares (in shares) | shares | 27 | |||||||||||||||||||||||||||||||||
Conversion Value in Excess of Principal | [4],[5] | $ 572 | ||||||||||||||||||||||||||||||||
Convertible Debt | 2033F Notes | Micron Technology, Inc. | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 2.13% | 2.13% | 2.13% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 4.93% | 4.93% | 4.93% | |||||||||||||||||||||||||||||||
Current debt | [7] | $ 278 | $ 278 | 0 | ||||||||||||||||||||||||||||||
Long-term debt | [7] | 0 | 0 | 271 | ||||||||||||||||||||||||||||||
Net Carrying Amount | [7] | $ 278 | $ 278 | 271 | ||||||||||||||||||||||||||||||
Convertible Debt | 2043G Notes | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 3.00% | 3.00% | 3.00% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 6.76% | 6.76% | 6.76% | |||||||||||||||||||||||||||||||
Principal | [10] | $ 1,025 | $ 1,025 | 1,025 | ||||||||||||||||||||||||||||||
Current debt | 0 | 0 | 0 | |||||||||||||||||||||||||||||||
Long-term debt | 671 | 671 | 657 | |||||||||||||||||||||||||||||||
Net Carrying Amount | [1] | 671 | 671 | 657 | ||||||||||||||||||||||||||||||
Original principal amount of 2043G Notes | 820 | 820 | ||||||||||||||||||||||||||||||||
Debt Instrument, Scheduled Accreted Principal Amount | 917 | 917 | ||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 1,025 | $ 1,025 | ||||||||||||||||||||||||||||||||
Convertible Debt [Abstract] | ||||||||||||||||||||||||||||||||||
Conversion Price Per Share | $ / shares | $ 29.16 | $ 29.16 | ||||||||||||||||||||||||||||||||
Conversion Price Per Share Threshold (dollars per share) | $ / shares | [8] | $ 37.91 | ||||||||||||||||||||||||||||||||
Underlying Shares (in shares) | shares | 35 | |||||||||||||||||||||||||||||||||
Conversion Value in Excess of Principal | [4],[5] | $ 99 | ||||||||||||||||||||||||||||||||
Convertible Debt | 2043G Notes | Micron Technology, Inc. | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 3.00% | 3.00% | 3.00% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 6.76% | 6.76% | 6.76% | |||||||||||||||||||||||||||||||
Current debt | [11] | $ 0 | $ 0 | 0 | ||||||||||||||||||||||||||||||
Long-term debt | [11] | 671 | 671 | 657 | ||||||||||||||||||||||||||||||
Net Carrying Amount | 671 | [10] | 671 | [10] | 657 | [11] | ||||||||||||||||||||||||||||
Original principal amount of 2043G Notes | 820 | 820 | ||||||||||||||||||||||||||||||||
Debt Instrument, Scheduled Accreted Principal Amount | 917 | 917 | ||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | 1,030 | 1,030 | ||||||||||||||||||||||||||||||||
Notes Payable, Other Payables | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Principal | 216 | 216 | 512 | |||||||||||||||||||||||||||||||
Current debt | 164 | 164 | 182 | |||||||||||||||||||||||||||||||
Long-term debt | 44 | 44 | 316 | |||||||||||||||||||||||||||||||
Net Carrying Amount | [1] | $ 208 | $ 208 | 498 | ||||||||||||||||||||||||||||||
Notes Payable, Other Payables | Weighted Average | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 2.13% | 2.13% | 2.13% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 2.66% | 2.66% | 2.66% | |||||||||||||||||||||||||||||||
Notes Payable, Other Payables | Micron Technology, Inc. | ||||||||||||||||||||||||||||||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||||||||||||||||||||||||||||||
Stated Rate (in ten thousandths) | 1.65% | 1.65% | 1.65% | |||||||||||||||||||||||||||||||
Effective Rate (in ten thousandths) | 1.65% | 1.65% | 1.65% | |||||||||||||||||||||||||||||||
Current debt | $ 0 | $ 0 | 0 | |||||||||||||||||||||||||||||||
Long-term debt | 10 | 10 | 10 | |||||||||||||||||||||||||||||||
Net Carrying Amount | 10 | 10 | $ 10 | |||||||||||||||||||||||||||||||
Notes Payable, Other Payables | Revolving Credit Facility 4 | ||||||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Line of credit facility, Maximum borrowing capacity | $ 750 | $ 750 | ||||||||||||||||||||||||||||||||
Interest Costs Incurred [Abstract] | ||||||||||||||||||||||||||||||||||
Percentage of collateral to face value of issued and outstanding credit facility | 80.00% | 80.00% | 80.00% | |||||||||||||||||||||||||||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 750 | $ 750 | ||||||||||||||||||||||||||||||||
Notes Payable, Other Payables | Revolving Credit Facility 4 | LIBOR | Minimum | ||||||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Margin on variable rate financing (in hundredths) | 1.75% | |||||||||||||||||||||||||||||||||
Secured Debt [Abstract] | ||||||||||||||||||||||||||||||||||
Margin on variable rate financing | 1.75% | |||||||||||||||||||||||||||||||||
Notes Payable, Other Payables | Revolving Credit Facility 4 | LIBOR | Maximum | ||||||||||||||||||||||||||||||||||
MSAC and MSTW Secured Term Loans [Abstract] | ||||||||||||||||||||||||||||||||||
Margin on variable rate financing (in hundredths) | 2.25% | |||||||||||||||||||||||||||||||||
Secured Debt [Abstract] | ||||||||||||||||||||||||||||||||||
Margin on variable rate financing | 2.25% | |||||||||||||||||||||||||||||||||
|
Debt - MMJ Creditor Payments (Details) ¥ in Millions, $ in Millions |
Aug. 31, 2017
USD ($)
payment
|
Aug. 31, 2017
JPY (¥)
payment
|
Sep. 01, 2016
USD ($)
|
[1] | |||
---|---|---|---|---|---|---|---|
Elpida Sponsor Agreement [Abstract] | |||||||
Debt | $ | $ 11,134 | [1] | $ 9,910 | ||||
Reorganization obligation | |||||||
Elpida Sponsor Agreement [Abstract] | |||||||
Debt | $ | $ 631 | [1] | $ 869 | ||||
Reorganization obligation | Micron Memory Japan, Inc. | |||||||
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items] | |||||||
Total MMJ Creditor Payments | ¥ | ¥ 200,000 | ||||||
Number of periodic MMJ creditor installment payments | 7 | 7 | |||||
Elpida Sponsor Agreement [Abstract] | |||||||
Less unamortized discount | $ (64) | ¥ (7,075) | |||||
Debt | 631 | 69,516 | |||||
Reorganization obligation | Micron Memory Japan, Inc. | Scenario, Plan | |||||||
Elpida Sponsor Agreement [Abstract] | |||||||
2018 | 160 | 17,675 | |||||
2019 | 246 | 27,154 | |||||
2020 | 289 | 31,762 | |||||
Estimated Remaining Reorganization Payments to Third Party Creditors | $ 695 | ¥ 76,591 | |||||
Reorganization obligation | Micron Memory Japan, Inc. | Secured Creditors | |||||||
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items] | |||||||
Number of periodic MMJ creditor installment payments | 6 | 6 | |||||
Recovery Rate of Reorganization Plan Creditors | 100.00% | 100.00% | |||||
Reorganization obligation | Micron Memory Japan, Inc. | Unsecured Creditor | |||||||
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items] | |||||||
Number of periodic MMJ creditor installment payments | 7 | 7 | |||||
Reorganization obligation | Micron Memory Japan, Inc. | Unsecured Creditor | Minimum | |||||||
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items] | |||||||
Recovery Rate of Reorganization Plan Creditors | 17.40% | 17.40% | |||||
Reorganization obligation | Micron Akita, Inc. | Unsecured Creditor | |||||||
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items] | |||||||
Number of periodic MMJ creditor installment payments | 7 | 7 | |||||
|
Debt - Debt Repurchases and Conversions (Details) shares in Millions, $ in Millions |
1 Months Ended | 2 Months Ended | 3 Months Ended | 12 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Nov. 16, 2017
USD ($)
|
Nov. 13, 2017
USD ($)
|
Oct. 17, 2017
USD ($)
|
Oct. 12, 2017
USD ($)
|
Aug. 31, 2017
USD ($)
|
Oct. 26, 2017
USD ($)
shares
|
Nov. 30, 2017
USD ($)
d
|
Aug. 31, 2017
USD ($)
|
Sep. 01, 2016
USD ($)
|
Sep. 03, 2015
USD ($)
|
Aug. 28, 2014
USD ($)
|
|
Extinguishment of Debt [Line Items] | |||||||||||
Repayments of debt | $ 2,558 | $ 870 | $ 2,329 | ||||||||
(Decrease) in Equity | (33) | (38) | (691) | ||||||||
Gain (Loss) on Extinguishment of Debt | 99 | 4 | 49 | ||||||||
Corporate bonds | |||||||||||
Extinguishment of Debt [Line Items] | |||||||||||
Repayments of debt | 1,630 | ||||||||||
Gain (Loss) on Extinguishment of Debt | 94 | ||||||||||
Corporate bonds | 2025 Notes | |||||||||||
Extinguishment of Debt [Line Items] | |||||||||||
Face value of debt extinguished | 631 | ||||||||||
Increase (Decrease) in Carrying Value | (625) | ||||||||||
Corporate bonds | 2026 Notes | |||||||||||
Extinguishment of Debt [Line Items] | |||||||||||
Face value of debt extinguished | 321 | ||||||||||
Increase (Decrease) in Carrying Value | (318) | ||||||||||
Corporate bonds | 2022 Notes | |||||||||||
Extinguishment of Debt [Line Items] | |||||||||||
Face value of debt extinguished | 600 | ||||||||||
Increase (Decrease) in Carrying Value | (592) | ||||||||||
Convertible Debt | |||||||||||
Extinguishment of Debt [Line Items] | |||||||||||
Derivative debt liability | $ 275 | ||||||||||
Repayments of debt | 1,430 | ||||||||||
Face value of debt extinguished | 489 | ||||||||||
Increase (Decrease) in Carrying Value | (686) | ||||||||||
(Decrease) in Equity | $ (691) | ||||||||||
Convertible Debt | 2033E Notes | |||||||||||
Extinguishment of Debt [Line Items] | |||||||||||
Principle amount of 2033E Notes converted by holders | $ 58 | ||||||||||
Principle amount of 2033E Notes elected to be settled in cash | 16 | ||||||||||
Principle amount of 2033E Notes elected to be settled in cash and shares | 42 | ||||||||||
Derivative debt liability | $ 31 | $ 31 | |||||||||
Repayments of debt | 94 | ||||||||||
Face value of debt extinguished | 57 | ||||||||||
Increase (Decrease) in Carrying Value | (54) | ||||||||||
(Decrease) in Equity | $ (38) | ||||||||||
Subsequent Event | Secured Debt | 2023 Secured Notes | |||||||||||
Extinguishment of Debt [Line Items] | |||||||||||
Face value of debt extinguished | $ 812 | $ 438 | |||||||||
Percentage of Principal Amount Redeemable Using Equity Offering Proceeds | 35.00% | ||||||||||
Subsequent Event | Convertible Debt | 2033E Notes | |||||||||||
Extinguishment of Debt [Line Items] | |||||||||||
Derivative, Term of Contract, Consecutive Trading Days | d | 20 | ||||||||||
Repayments of debt | $ 92 | ||||||||||
Stock issued for conversion of 2033E Notes | shares | 3 | ||||||||||
Scenario, Forecast | |||||||||||
Extinguishment of Debt [Line Items] | |||||||||||
Gain (Loss) on Extinguishment of Debt | $ 170 | ||||||||||
Scenario, Forecast | Secured Debt | 2023 Secured Notes | |||||||||||
Extinguishment of Debt [Line Items] | |||||||||||
Repayments of debt | $ 885 | $ 470 | |||||||||
Scenario, Forecast | Corporate bonds | 2023 Notes | |||||||||||
Extinguishment of Debt [Line Items] | |||||||||||
Repayments of debt | $ 1,050 |
Debt - Maturities (Details) $ in Millions |
Aug. 31, 2017
USD ($)
|
---|---|
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2018 | $ 402 |
2019 | 334 |
2020 | 229 |
2021 | 97 |
2022 | 62 |
2023 and thereafter | 227 |
Capital Leases, Future Minimum Payments, Interest Included in Payments | (161) |
Capital Lease Obligations | 1,190 |
Notes Payable (including MMJ Creditor Payments) | |
Long-term Debt, by Maturity [Abstract] | |
2018 | 641 |
2019 | 1,166 |
2020 | 1,727 |
2021 | 1,269 |
2022 | 1,204 |
2023 and thereafter | 4,365 |
Debt Instrument, Unamortized Discount | (428) |
Notes Payable | $ 9,944 |
Commitments (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Operating Leases, Rent Expense, Net [Abstract] | |||
Rent expense | $ 52 | $ 46 | $ 48 |
Operating Leases, Future Minimum Payments Due [Abstract] | |||
2018 | 29 | ||
2019 | 28 | ||
2020 | 23 | ||
2021 | 19 | ||
2022 | 17 | ||
2023 and thereafter | 38 | ||
Total operating lease commitments | 154 | ||
Capital Addition Purchase Commitments | |||
Unrecorded Unconditional Purchase Obligation [Line Items] | |||
Commitments for acquisition of property, plant, and equipment | $ 1,100 |
Contingencies (Details) - Pending Litigation $ in Millions |
12 Months Ended |
---|---|
Aug. 31, 2017
USD ($)
patent
| |
Qimonda AG Inotera Share Purchase Proceedings | |
Loss Contingencies [Line Items] | |
Percentage of total Inotera shares subject to litigation (in hundredths) | 18.00% |
Loss contingency, judgment under appeal | $ | $ 1 |
Patent Matters | Elm 3DS Innovations, LLC | |
Loss Contingencies [Line Items] | |
Number of patents allegedly infringed | 13 |
Patent Matters | Innovative Memory Solutions, Inc. | |
Loss Contingencies [Line Items] | |
Number of patents allegedly infringed | 8 |
Patent Matters | Harvard University | |
Loss Contingencies [Line Items] | |
Number of patents allegedly infringed | 2 |
Redeemable Convertible Notes (Details) - USD ($) $ in Millions |
Aug. 31, 2017 |
Sep. 01, 2016 |
---|---|---|
Debt Instrument [Line Items] | ||
Redeemable convertible notes | $ 21 | $ 0 |
2033E and 2033F convertible senior notes | ||
Debt Instrument [Line Items] | ||
Redeemable convertible notes | $ 21 |
Equity - Common Stock Issuance (Details) - Subsequent Event $ / shares in Units, shares in Millions, $ in Millions |
1 Months Ended |
---|---|
Oct. 31, 2017
USD ($)
$ / shares
shares
| |
Subsequent Event [Line Items] | |
Common stock issued (in shares) | shares | 34 |
Common shares issued, Price per share | $ / shares | $ 41.00 |
Proceeds from common stock issuance | $ | $ 1,360 |
Equity - Common Stock Repurchase (Details) - USD ($) shares in Millions, $ in Millions |
12 Months Ended | 36 Months Ended | |
---|---|---|---|
Sep. 01, 2016 |
Sep. 03, 2015 |
Aug. 31, 2017 |
|
Equity, Class of Treasury Stock [Line Items] | |||
Treasury Stock, Value Acquired, Cost Method (in shares) | $ 125 | $ 831 | |
Repurchases Authorized by the BOD | |||
Equity, Class of Treasury Stock [Line Items] | |||
Stock Repurchase Program, Authorized Amount | $ 1,250 | ||
Treasury Stock, Shares Acquired (in shares) | 49 | ||
Treasury Stock, Value Acquired, Cost Method (in shares) | $ 956 |
Equity - Treasury Stock (Details) - USD ($) shares in Millions, $ in Millions |
12 Months Ended | |
---|---|---|
Dec. 06, 2016 |
Aug. 31, 2017 |
|
Treasury Stock | ||
Class of Stock [Line Items] | ||
Decrease in retained earnings due to reissuance of treasury shares at price lower than purchase price | $ (1,029) | |
Retained Earnings | ||
Class of Stock [Line Items] | ||
Decrease in retained earnings due to reissuance of treasury shares at price lower than purchase price | $ 104 | |
Inotera | ||
Class of Stock [Line Items] | ||
Proceeds from issuance of stock to Nanya | $ 986 | |
Inotera | Shares Issued to Nanya | ||
Class of Stock [Line Items] | ||
Number of Micron Shares issued to Nanya as consideration for Inotera shares not already owned (in shares) | 58 | |
Proceeds from issuance of stock to Nanya | $ 986 | |
Inotera | Shares Issued to Nanya | Treasury Stock | ||
Class of Stock [Line Items] | ||
Proceeds from issuance of stock to Nanya | $ 925 | |
Treasury shares included in sale of shares to Nanya (in shares) | 54 | |
Decrease in treasury stock due to reissuance of treasury shares | $ 1,030 | |
Inotera | Shares Issued to Nanya | Retained Earnings | ||
Class of Stock [Line Items] | ||
Decrease in retained earnings due to reissuance of treasury shares at price lower than purchase price | $ 104 |
Equity - Capped Calls (Details) - Call Option - USD ($) $ / shares in Units, shares in Millions |
12 Months Ended | ||
---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Option Indexed to Issuer's Equity [Line Items] | |||
Treasury Stock, Shares Acquired (in shares) | 4 | 2 | 3 |
Purchased options | |||
Option Indexed to Issuer's Equity [Line Items] | |||
Underlying Common Shares (in shares) | 111 | ||
Proceeds received upon settlement of capped calls | $ 125,000,000 | ||
Shares received upon settlement of capped calls | 4 | 2 | 3 |
Dollar value of shares received upon settlement of capped calls | $ 67,000,000 | $ 23,000,000 | $ 50,000,000 |
Purchased options | Minimum | |||
Option Indexed to Issuer's Equity [Line Items] | |||
Value at Expiration | 0 | ||
Purchased options | Maximum | |||
Option Indexed to Issuer's Equity [Line Items] | |||
Value at Expiration | $ 527,000,000 | ||
Purchased options | 2032C Notes | |||
Option Indexed to Issuer's Equity [Line Items] | |||
Strike Price (in dollars per share) | $ 9.80 | ||
Underlying Common Shares (in shares) | 25 | ||
Purchased options | 2032C Notes | Minimum | |||
Option Indexed to Issuer's Equity [Line Items] | |||
Value at Expiration | $ 0 | ||
Purchased options | 2032C Notes | Maximum | |||
Option Indexed to Issuer's Equity [Line Items] | |||
Value at Expiration | $ 147,000,000 | ||
Purchased options | 2032C Notes | Weighted Average | |||
Option Indexed to Issuer's Equity [Line Items] | |||
Weighted-Average Cap Price (in dollars per share) | $ 15.69 | ||
Purchased options | 2032D Notes | |||
Option Indexed to Issuer's Equity [Line Items] | |||
Strike Price (in dollars per share) | $ 10.16 | ||
Underlying Common Shares (in shares) | 32 | ||
Purchased options | 2032D Notes | Minimum | |||
Option Indexed to Issuer's Equity [Line Items] | |||
Value at Expiration | $ 0 | ||
Purchased options | 2032D Notes | Maximum | |||
Option Indexed to Issuer's Equity [Line Items] | |||
Value at Expiration | $ 184,000,000 | ||
Purchased options | 2032D Notes | Weighted Average | |||
Option Indexed to Issuer's Equity [Line Items] | |||
Weighted-Average Cap Price (in dollars per share) | $ 15.91 | ||
Purchased options | 2033E Notes | |||
Option Indexed to Issuer's Equity [Line Items] | |||
Strike Price (in dollars per share) | $ 10.93 | ||
Underlying Common Shares (in shares) | 27 | ||
Purchased options | 2033E Notes | Minimum | |||
Option Indexed to Issuer's Equity [Line Items] | |||
Value at Expiration | $ 0 | ||
Purchased options | 2033E Notes | Maximum | |||
Option Indexed to Issuer's Equity [Line Items] | |||
Value at Expiration | $ 98,000,000 | ||
Purchased options | 2033E Notes | Weighted Average | |||
Option Indexed to Issuer's Equity [Line Items] | |||
Weighted-Average Cap Price (in dollars per share) | $ 14.51 | ||
Purchased options | 2033F Notes | |||
Option Indexed to Issuer's Equity [Line Items] | |||
Strike Price (in dollars per share) | $ 10.93 | ||
Underlying Common Shares (in shares) | 27 | ||
Purchased options | 2033F Notes | Minimum | |||
Option Indexed to Issuer's Equity [Line Items] | |||
Value at Expiration | $ 0 | ||
Purchased options | 2033F Notes | Maximum | |||
Option Indexed to Issuer's Equity [Line Items] | |||
Value at Expiration | $ 98,000,000 | ||
Purchased options | 2033F Notes | Weighted Average | |||
Option Indexed to Issuer's Equity [Line Items] | |||
Weighted-Average Cap Price (in dollars per share) | $ 14.51 |
Equity - Shareholder Rights Plan (Details) |
12 Months Ended |
---|---|
Aug. 31, 2017
right_per_share
| |
Equity [Abstract] | |
Shareholder Rights Agreement, Purchase Discount Rights Received, Ratio | 1 |
Shareholder Rights Agreement, Beneficial Ownership Increase Trigger, Percent | 50.00% |
Shareholder Rights Agreement, Ownership Evaluation Period | 3 years |
Shareholder Rights Agreement, Beneficial Owner Status Trigger, Percent | 4.99% |
Equity - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||
Accumulated other comprehensive income | $ (35) | ||
Other comprehensive income (loss) | 64 | $ (48) | $ (44) |
Accumulated other comprehensive income | 29 | (35) | |
Cumulative Foreign Currency Translation Adjustments | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||
Accumulated other comprehensive income | (49) | ||
Other comprehensive income before reclassifications | 27 | ||
Amount reclassified out of accumulated other comprehensive income | 21 | ||
Tax effects | 0 | ||
Other comprehensive income (loss) | 48 | ||
Accumulated other comprehensive income | (1) | (49) | |
Gains (Losses) on Derivative Instruments, Net | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||
Accumulated other comprehensive income | 2 | ||
Other comprehensive income before reclassifications | 15 | ||
Amount reclassified out of accumulated other comprehensive income | 1 | ||
Tax effects | (1) | ||
Other comprehensive income (loss) | 15 | ||
Accumulated other comprehensive income | 17 | 2 | |
Pension Liability Adjustments | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||
Accumulated other comprehensive income | 12 | ||
Other comprehensive income before reclassifications | 4 | ||
Amount reclassified out of accumulated other comprehensive income | (1) | ||
Tax effects | (2) | ||
Other comprehensive income (loss) | 1 | ||
Accumulated other comprehensive income | 13 | 12 | |
Parent | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||
Accumulated other comprehensive income | (35) | ||
Other comprehensive income before reclassifications | 46 | ||
Amount reclassified out of accumulated other comprehensive income | 21 | ||
Tax effects | (3) | ||
Other comprehensive income (loss) | 64 | (48) | $ (43) |
Accumulated other comprehensive income | $ 29 | $ (35) |
Equity - NCI and Consolidated VIE Disclosures (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 31, 2017 |
Jun. 01, 2017 |
Mar. 02, 2017 |
Dec. 01, 2016 |
Sep. 01, 2016 |
Jun. 02, 2016 |
Mar. 03, 2016 |
Dec. 03, 2015 |
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Variable Interest Entity [Line Items] | |||||||||||
Noncontrolling Interest Balance | $ 849 | $ 848 | $ 849 | $ 848 | |||||||
Net sales | 6,138 | $ 5,566 | $ 4,648 | $ 3,970 | 3,217 | $ 2,898 | $ 2,934 | $ 3,350 | 20,322 | 12,399 | $ 16,192 |
Noncontrolling Interest Items [Abstract] | |||||||||||
IMFT distributions to Intel | 34 | 6 | |||||||||
Non-Trade | |||||||||||
Variable Interest Entity [Line Items] | |||||||||||
Net sales | 553 | 501 | 463 | ||||||||
Intel | Non-Trade | |||||||||||
Variable Interest Entity [Line Items] | |||||||||||
Net sales | 553 | 501 | 463 | ||||||||
Intel | Collaborative Arrangement Process Design and Process Development | |||||||||||
Variable Interest Entity [Line Items] | |||||||||||
R and D expenses reduced by reimbursements from Intel | 213 | 205 | 224 | ||||||||
Other Consolidated Entities | |||||||||||
Variable Interest Entity [Line Items] | |||||||||||
Noncontrolling Interest Balance | 17 | 16 | 17 | 16 | |||||||
Variable Interest Entity, Primary Beneficiary | IM Flash Technologies, LLC | |||||||||||
Variable Interest Entity [Line Items] | |||||||||||
Noncontrolling Interest Balance | $ 832 | $ 832 | $ 832 | $ 832 | |||||||
Noncontrolling Interest Percentage (in hundredths) | 49.00% | 49.00% | 49.00% | 49.00% | |||||||
Ownership interest in Intel (in hundredths) | 51.00% | 51.00% | |||||||||
Noncontrolling Interest Items [Abstract] | |||||||||||
IMFT distributions to Micron | $ 36 | 6 | |||||||||
IMFT distributions to Intel | 34 | 6 | |||||||||
Micron contributions to IMFT | 38 | 148 | |||||||||
Intel contributions to IMFT | $ 37 | $ 142 |
Equity - Consolidated VIE assets and liabilities (Details) - USD ($) $ in Millions |
Aug. 31, 2017 |
Sep. 01, 2016 |
|||
---|---|---|---|---|---|
Assets | |||||
Cash and equivalents | $ 5,109 | $ 4,140 | |||
Receivables | 3,759 | 2,068 | |||
Inventories | 3,123 | 2,889 | |||
Other current assets | 147 | 140 | |||
Total current assets | 12,457 | 9,495 | |||
Property, plant, and equipment, net | 19,431 | 14,686 | |||
Other noncurrent assets | 434 | 356 | |||
Total assets | 35,336 | 27,540 | |||
Liabilities | |||||
Accounts payable and accrued expenses | 3,664 | 3,879 | |||
Deferred income | 408 | 200 | |||
Current debt | 1,262 | 756 | |||
Total current liabilities | 5,334 | 4,835 | |||
Long-term debt | 9,872 | 9,154 | |||
Other noncurrent liabilities | 639 | 623 | |||
Total liabilities | 15,845 | 14,612 | |||
IM Flash Technologies, LLC | |||||
Assets | |||||
Cash and equivalents | 87 | ||||
Variable Interest Entity, Primary Beneficiary | IM Flash Technologies, LLC | |||||
Assets | |||||
Cash and equivalents | [1] | 87 | 98 | ||
Receivables | [1] | 81 | 89 | ||
Inventories | [1] | 128 | 68 | ||
Other current assets | [1] | 7 | 6 | ||
Total current assets | [1] | 303 | 261 | ||
Property, plant, and equipment, net | [1] | 1,852 | 1,792 | ||
Other noncurrent assets | [1] | 49 | 50 | ||
Total assets | [1] | 2,204 | 2,103 | ||
Liabilities | |||||
Accounts payable and accrued expenses | [1] | 299 | 175 | ||
Deferred income | [1] | 6 | 7 | ||
Current debt | [1] | 19 | 16 | ||
Total current liabilities | [1] | 324 | 198 | ||
Long-term debt | [1] | 75 | 66 | ||
Other noncurrent liabilities | [1] | 88 | 94 | ||
Total liabilities | [1] | $ 487 | $ 358 | ||
|
Equity - Restrictions on Net Assets (Details) - USD ($) $ in Millions |
Aug. 31, 2017 |
Sep. 01, 2016 |
---|---|---|
Restrictions for Consolidated and Unconsolidated Subsidiaries [Abstract] | ||
Cash and equivalents | $ 5,109 | $ 4,140 |
MMJ Group | ||
Restrictions for Consolidated and Unconsolidated Subsidiaries [Abstract] | ||
Amount of restricted net assets | 3,650 | |
Cash and equivalents | 580 | |
MSTW and MTTW | ||
Restrictions for Consolidated and Unconsolidated Subsidiaries [Abstract] | ||
Amount of restricted net assets | 2,220 | |
Cash and equivalents | 56 | |
IM Flash Technologies, LLC | ||
Restrictions for Consolidated and Unconsolidated Subsidiaries [Abstract] | ||
Amount of restricted net assets | 885 | |
Cash and equivalents | $ 87 |
Fair Value Measurements - Fair and Carrying Value (Details) - USD ($) $ in Millions |
Aug. 31, 2017 |
Sep. 01, 2016 |
||
---|---|---|---|---|
Fair value disclosure [Line Items] | ||||
Carrying Value of Debt | [1] | $ 11,134 | $ 9,910 | |
Fair Value | Level 2 | Notes and MMJ creditor payments | ||||
Fair value disclosure [Line Items] | ||||
Fair Value of Notes and MMJ creditor payments | 8,793 | 7,257 | ||
Fair Value | Level 2 | Convertible Notes | ||||
Fair value disclosure [Line Items] | ||||
Fair Value of Convertible notes | 3,901 | 2,408 | ||
Carrying Value | Notes and MMJ creditor payments | ||||
Fair value disclosure [Line Items] | ||||
Carrying Value of Debt | 8,423 | 7,050 | ||
Carrying Value | Convertible Notes | ||||
Fair value disclosure [Line Items] | ||||
Carrying Value of Debt | $ 1,521 | $ 1,454 | ||
|
Derivative Instruments - Fair Values (Details) shares in Millions, $ in Millions, ¥ in Billions |
1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 31, 2017
USD ($)
shares
|
Nov. 30, 2017
d
|
Aug. 31, 2017
USD ($)
shares
|
Aug. 31, 2017
JPY (¥)
shares
|
Sep. 01, 2016
USD ($)
|
||||||||||||
Not Designated as Hedging Instrument | ||||||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Liabilities | [1] | $ (52) | $ (52) | |||||||||||||
Not Designated as Hedging Instrument | Forward Contracts | ||||||||||||||||
Notional Disclosures [Abstract] | ||||||||||||||||
Notional Amount, Forward Contracts | [2] | 4,847 | $ 4,847 | $ 2,052 | ||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Liabilities | [3] | (11) | ||||||||||||||
Foreign Currency Cash Flow Hedges [Abstract] | ||||||||||||||||
General maturity of non-designated currency forward contracts (in days) | 9 months | |||||||||||||||
Not Designated as Hedging Instrument | Forward Contracts | 2017 Reorganization Payment Instruments | ||||||||||||||||
Notional Disclosures [Abstract] | ||||||||||||||||
Notional Amount, Forward Contracts | ¥ | ¥ 18 | |||||||||||||||
Not Designated as Hedging Instrument | Forward Contracts | 2018 Reorganization Payment Instruments | ||||||||||||||||
Notional Disclosures [Abstract] | ||||||||||||||||
Notional Amount, Forward Contracts | ¥ | ¥ 28 | |||||||||||||||
Not Designated as Hedging Instrument | Forward Contracts | New Taiwan dollar | ||||||||||||||||
Notional Disclosures [Abstract] | ||||||||||||||||
Notional Amount, Forward Contracts | [2] | 2,921 | $ 2,921 | |||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Liabilities | [3] | (2) | (2) | |||||||||||||
Not Designated as Hedging Instrument | Forward Contracts | Yen | ||||||||||||||||
Notional Disclosures [Abstract] | ||||||||||||||||
Notional Amount, Forward Contracts | [2] | 1,209 | 1,209 | 1,668 | ||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Liabilities | [3] | 0 | 0 | (10) | ||||||||||||
Not Designated as Hedging Instrument | Forward Contracts | Singapore dollar | ||||||||||||||||
Notional Disclosures [Abstract] | ||||||||||||||||
Notional Amount, Forward Contracts | [2] | 324 | 324 | 206 | ||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Liabilities | [3] | 0 | 0 | 0 | ||||||||||||
Not Designated as Hedging Instrument | Forward Contracts | Euro | ||||||||||||||||
Notional Disclosures [Abstract] | ||||||||||||||||
Notional Amount, Forward Contracts | [2] | 368 | 368 | 93 | ||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Liabilities | [3] | (2) | (2) | 0 | ||||||||||||
Not Designated as Hedging Instrument | Forward Contracts | Other | ||||||||||||||||
Notional Disclosures [Abstract] | ||||||||||||||||
Notional Amount, Forward Contracts | [2] | 25 | 25 | 85 | ||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Liabilities | [3] | $ (1) | $ (1) | (1) | ||||||||||||
Not Designated as Hedging Instrument | Convertible notes settlement obligations | ||||||||||||||||
Notional Disclosures [Abstract] | ||||||||||||||||
Notional Amount, Convertible Notes (in shares) | shares | [2] | 2 | 2 | 2 | ||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Assets | [4],[5] | $ 0 | $ 0 | |||||||||||||
Fair Value of Liabilities | [1] | (47) | (47) | |||||||||||||
Not Designated as Hedging Instrument | Accounts receivable | ||||||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Assets | [5] | 34 | 34 | |||||||||||||
Not Designated as Hedging Instrument | Accounts receivable | Forward Contracts | ||||||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Assets | [5] | 0 | ||||||||||||||
Not Designated as Hedging Instrument | Accounts receivable | Forward Contracts | New Taiwan dollar | ||||||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Assets | [5] | 22 | 22 | |||||||||||||
Not Designated as Hedging Instrument | Accounts receivable | Forward Contracts | Yen | ||||||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Assets | [5] | 5 | 5 | 0 | ||||||||||||
Not Designated as Hedging Instrument | Accounts receivable | Forward Contracts | Singapore dollar | ||||||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Assets | [5] | 1 | 1 | 0 | ||||||||||||
Not Designated as Hedging Instrument | Accounts receivable | Forward Contracts | Euro | ||||||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Assets | [5] | 5 | 5 | 0 | ||||||||||||
Not Designated as Hedging Instrument | Accounts receivable | Forward Contracts | Other | ||||||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Assets | [5] | 1 | 1 | 0 | ||||||||||||
Not Designated as Hedging Instrument | Other noncurrent assets | ||||||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Assets | [4] | 1 | 1 | |||||||||||||
Not Designated as Hedging Instrument | Other noncurrent assets | Forward Contracts | ||||||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Assets | [4] | 0 | ||||||||||||||
Not Designated as Hedging Instrument | Other noncurrent assets | Forward Contracts | New Taiwan dollar | ||||||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Assets | [4] | 0 | 0 | |||||||||||||
Not Designated as Hedging Instrument | Other noncurrent assets | Forward Contracts | Yen | ||||||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Assets | [4] | 1 | 1 | 0 | ||||||||||||
Not Designated as Hedging Instrument | Other noncurrent assets | Forward Contracts | Singapore dollar | ||||||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Assets | [4] | 0 | 0 | 0 | ||||||||||||
Not Designated as Hedging Instrument | Other noncurrent assets | Forward Contracts | Euro | ||||||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Assets | [4] | 0 | 0 | 0 | ||||||||||||
Not Designated as Hedging Instrument | Other noncurrent assets | Forward Contracts | Other | ||||||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Assets | [4] | 0 | 0 | 0 | ||||||||||||
Designated as Hedging Instrument | Cash Flow Hedging | Forward Contracts | ||||||||||||||||
Notional Disclosures [Abstract] | ||||||||||||||||
Notional Amount, Forward Contracts | 456 | 456 | 172 | |||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Assets | [5] | 17 | 17 | 2 | ||||||||||||
Fair Value of Liabilities | [3] | 0 | $ 0 | (2) | ||||||||||||
Foreign Currency Cash Flow Hedges [Abstract] | ||||||||||||||||
General maturity of hedge contracts (in months) | 12 months | |||||||||||||||
Designated as Hedging Instrument | Cash Flow Hedging | Forward Contracts | Yen | ||||||||||||||||
Notional Disclosures [Abstract] | ||||||||||||||||
Notional Amount, Forward Contracts | 258 | $ 258 | 107 | |||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Assets | [5] | 4 | 4 | 2 | ||||||||||||
Fair Value of Liabilities | [3] | 0 | 0 | (1) | ||||||||||||
Designated as Hedging Instrument | Cash Flow Hedging | Forward Contracts | Euro | ||||||||||||||||
Notional Disclosures [Abstract] | ||||||||||||||||
Notional Amount, Forward Contracts | 198 | 198 | 65 | |||||||||||||
Derivative, Fair Value, Net [Abstract] | ||||||||||||||||
Fair Value of Assets | [5] | 13 | 13 | 0 | ||||||||||||
Fair Value of Liabilities | [3] | 0 | $ 0 | $ (1) | ||||||||||||
Convertible Debt | 2033E Notes | ||||||||||||||||
Derivatives, Fair Value [Line Items] | ||||||||||||||||
Principle amount of 2033E Notes elected to be settled in cash | $ 16 | |||||||||||||||
Subsequent Event | Convertible Debt | 2033E Notes | ||||||||||||||||
Derivatives, Fair Value [Line Items] | ||||||||||||||||
Derivative, Term of Contract, Consecutive Trading Days | d | 20 | |||||||||||||||
|
Derivative Instruments - Hedging Relationship (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Not Designated as Hedging Instrument | Foreign exchange contract | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Net gains (losses) for derivative instruments without hedge accounting designation | $ (45) | $ 185 | $ (64) |
Not Designated as Hedging Instrument | Convertible notes settlement obligations | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Net gains (losses) for derivative instruments without hedge accounting designation | (2) | 0 | 7 |
Designated as Hedging Instrument | Cash Flow Hedging | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Net gains (losses) recognized in other comprehensive income, effective portion | $ 15 | $ 10 | $ (10) |
Equity Plans - Share Based Compensation (Details) - USD ($) $ / shares in Units, shares in Millions |
12 Months Ended | ||
---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares available for future awards (in shares) | 101 | ||
Employee stock option | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |||
Number of shares outstanding (in shares) | 42 | ||
Number of shares granted (in shares) | 8 | 8 | 8 |
Number of shares exercised (in shares) | (14) | ||
Number of shares canceled or expired (in shares) | (3) | ||
Number of shares outstanding (in shares) | 33 | 42 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | |||
Weighted average exercise price per share for options outstanding (in dollars per share) | $ 16.37 | ||
Weighted average exercise price per share for options granted (in dollars per share) | 19.61 | ||
Weighted average exercise price per share for options exercised (in dollars per share) | 10.17 | ||
Weighted average exercise price per share for options canceled or expired (in dollars per share) | 22.55 | ||
Weighted average exercise price per share for options outstanding (in dollars per share) | $ 19.32 | $ 16.37 | |
Share-based Compensation Arrangement by Share-based Payment Award Options, Outstanding, Additiona Disclosures [Abstract] | |||
Weighted average remaining contractual term for options outstanding (in years) | 4 years 5 months | ||
Aggregated intrinsic value for options outstanding | $ 438,000,000 | ||
Options exercisable (in shares) | 17 | ||
Weighted average exercise price per share for options exercisable (in dollars per share) | $ 17.44 | ||
Weighted average remaining contractual term for options exercisable (in years) | 2 years 8 months | ||
Aggregated intrinsic value for options exercisable | $ 255,000,000 | ||
Options unvested (in shares) | 16 | ||
Weighted average exercise price per share for options unvested (in dollars per share) | $ 21.25 | ||
Weighted average remaining contractual term for options unvested (in years) | 6 years 2 months | ||
Aggregated intrinsic value for options unvested | $ 183,000,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract] | |||
Total intrinsic value for option exercised | $ 198,000,000 | $ 52,000,000 | $ 229,000,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | |||
Fair Value Assumptions, Method Used | Black-Scholes | ||
Stock options granted (in shares) | 8 | 8 | 8 |
Weighted-average grant-date fair values per share of options granted during period (in dollars per share) | $ 8.68 | $ 6.94 | $ 14.79 |
Average expected life (in years) | 5 years 6 months | 5 years 6 months | 5 years 7 months |
Weighted-average expected volatility (in hundredths) | 46.00% | 47.00% | 45.00% |
Weighted-average risk-free interest rate (in hundredths) | 1.80% | 1.70% | 1.70% |
Expected dividends assumed in estimated option values | $ 0 | $ 0 | $ 0 |
Employee stock option | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock option annual incremental vesting (percentage) | 25.00% | ||
Employee stock option | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock option annual incremental vesting (percentage) | 33.00% | ||
Employee stock option | Awards Granted After February 2014 | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
General number of years from grant date until stock options expire (in years) | 8 years | ||
Employee stock option | Awards Granted Prior to February 2014 | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
General number of years from grant date until stock options expire (in years) | 6 years | ||
Restricted stock award | |||
Restricted Stock Awards activity | |||
Number of Shares - Outstanding (in shares) | 18 | ||
Number of Shares - Granted (in shares) | 8 | 10 | 7 |
Number of Shares - Restrictions lapsed (in shares) | (6) | ||
Number of Shares - Canceled (in shares) | (1) | ||
Number of Shares - Outstanding (in shares) | 19 | 18 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Weighted Average Grant Date Fair Value Per Share - Outstanding (in dollars per share) | $ 20.24 | ||
Weighted Average Grant Date Fair Value Per Share - Granted (in dollars per share) | 18.77 | $ 15.40 | $ 32.60 |
Weighted Average Grant Date Fair Value Per Share - Restrictions lapsed (in dollars per share) | 19.53 | ||
Weighted Average Grant Date Fair Value Per Share - Cancelled (in dollars per share) | 20.59 | ||
Weighted Average Grant Date Fair Value Per Share - Outstanding (in dollars per share) | $ 19.78 | $ 20.24 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | |||
Restricted stock awards granted (in shares) | 8 | 10 | 7 |
Weighted-average grant-date fair values per share (in dollars per share) | $ 18.77 | $ 15.40 | $ 32.60 |
Aggregate vesting-date fair value of shares vested | $ 115,000,000 | $ 71,000,000 | $ 155,000,000 |
Restricted stock award | Performance-based awards (Tranche One) | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | |||
Restricted award vesting period | 3 years | ||
Restricted stock award | Performance-based awards (Tranche One) | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | |||
Restricted award vesting rights, percentage | 0.00% | ||
Restricted stock award | Performance-based awards (Tranche One) | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | |||
Restricted award vesting rights, percentage | 200.00% | ||
Restricted stock award | Market-based awards (Tranche Two) | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | |||
Restricted award vesting period | 3 years | ||
Restricted stock award | Market-based awards (Tranche Two) | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | |||
Restricted award vesting rights, percentage | 0.00% | ||
Restricted stock award | Market-based awards (Tranche Two) | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | |||
Restricted award vesting rights, percentage | 200.00% | ||
Restricted stock award | Service-based awards (Tranche Three) | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock option annual incremental vesting (percentage) | 25.00% | ||
Restricted stock award, performance and market based awards | |||
Restricted Stock Awards activity | |||
Number of Shares - Outstanding (in shares) | 3 |
Equity Plans - Stock-based compensation expense (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation | $ 215 | $ 191 | $ 168 |
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract] | |||
Total unrecognized compensation costs related to non-vested awards expected to be recognized | $ 341 | ||
Weighted average period that unrecognized compensation costs is expected to be recognized (in years) | 1 year 2 months | ||
Employee stock option | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation | $ 71 | 79 | 81 |
Restricted stock award | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation | 144 | 112 | 87 |
Equity plans | |||
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract] | |||
Stock compensation expense capitalized and remained in inventory | 20 | 18 | |
Cost of Goods Sold | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation | 88 | 76 | 64 |
Selling, general, and administrative | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation | 75 | 66 | 61 |
Research and development | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation | 52 | 49 | 42 |
Other | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation | $ 0 | $ 0 | $ 1 |
Employee Benefit Plans - (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Employee Savings Plan for U.S. Employees | |||
Maximum annual contributions per employee (in hundredths) | 75.00% | ||
Maximum employer matching contribution, percent of employees' eligible earnings (in hundredths) | 5.00% | ||
Defined contribution plan contribution expense | $ 52 | $ 54 | $ 55 |
Retirement Plans | |||
Projected pension benefit obligation | 175 | 167 | |
Pension plan assets | $ 150 | $ 131 |
Restructure and Asset Impairments (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Sep. 01, 2016 |
Aug. 29, 2019 |
Aug. 31, 2017 |
Sep. 01, 2016 |
|
Scenario, Forecast | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Gain on asset sales and dispositions | $ 100 | |||
Tera Probe | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Tera Probe investment disposed of during 2017 | 40.00% | |||
Other Restructuring Activities | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Gain on asset sales and dispositions | $ 15 | |||
2016 Restructuring Plan | ||||
Restructuring Cost and Reserve [Line Items] | ||||
2016 Restructuring Plan | $ 58 | $ 33 | $ 58 | |
Accrued restructuring reserve for the 2016 Restructuring Plan | $ 24 | $ 24 |
Other Operating (Income) Expense, Net (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Other Income and Expenses [Abstract] | |||
(Gain) loss on disposition of property, plant, and equipment | $ (22) | $ (4) | $ (17) |
Other | 5 | (2) | (28) |
Other operating (income) expense, net | $ (17) | $ (6) | $ (45) |
Other Non-Operating Income (Expense), Net (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||
---|---|---|---|---|---|
Aug. 31, 2017 |
Jun. 01, 2017 |
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Component of Other Income Expense, Nonoperating [Line Items] | |||||
Loss on debt repurchases and conversions | $ (37) | $ (61) | $ (100) | $ (4) | $ (49) |
Loss from changes in currency exchange rates | (74) | (24) | (27) | ||
Gain on remeasurement of previously-held equity interest in Inotera | 71 | 0 | 0 | ||
Other | (9) | (26) | 23 | ||
Other non-operating income (expense), net | $ (112) | (54) | $ (53) | ||
Indemnification Receivable Writeoff | |||||
Component of Other Income Expense, Nonoperating [Line Items] | |||||
Other | $ (30) |
Income Taxes Income (loss) before income taxes and Income tax (provision) benefit (Details 1) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest [Abstract] | |||
Foreign | $ 5,252 | $ (353) | $ 2,431 |
U.S. | (56) | 72 | 178 |
Income (loss) before income taxes, net income (loss) attributable to noncontrolling interests, and equity in net income (loss) of equity method investees | 5,196 | (281) | 2,609 |
Current [Abstract] | |||
Foreign | (152) | (27) | (93) |
State | (1) | (1) | (1) |
U.S. federal | 0 | 0 | 6 |
Total income tax (provision) benefit - current | (153) | (28) | (88) |
Deferred [Abstract] | |||
Foreign | 39 | (32) | (85) |
State | 0 | 2 | 1 |
U.S. federal | 0 | 39 | 15 |
Income tax (provision) benefit | $ (114) | $ (19) | $ (157) |
Income Taxes Effective Income Tax Rate Reconciliation (Details 2) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Income tax (provision) benefit, income tax reconciliation [Abstract] | |||
U.S. federal income tax (provision) benefit at statutory rate | $ (1,819) | $ 98 | $ (913) |
Foreign tax rate differential | 1,571 | (300) | 515 |
Change in valuation allowance | 64 | 63 | 260 |
Change in unrecognized tax benefits | 12 | 52 | (118) |
Tax credits | 66 | 48 | 53 |
Noncontrolling investment transactions | 0 | 0 | 57 |
Other | (8) | 20 | (11) |
Income tax (provision) benefit | $ (114) | $ (19) | $ (157) |
Income Taxes Income Taxes - Tax Holiday (Details 3) - USD ($) $ / shares in Units, $ in Millions |
12 Months Ended | |
---|---|---|
Aug. 31, 2017 |
Sep. 03, 2015 |
|
Income Tax Disclosure [Abstract] | ||
Tax benefit due to arrangements allowing computation of tax provision at rates below local statutory rates | $ 742 | $ 338 |
Tax benefit per diluted share due to arrangements allowing computation of tax provision at rates below local statutory rates (in dollars per share) | $ 0.64 | $ 0.29 |
Deferred tax assets and liabilities (Details 4) - USD ($) $ in Millions |
Aug. 31, 2017 |
Sep. 01, 2016 |
---|---|---|
Deferred tax assets | ||
Net operating loss and tax credit carryforwards | $ 3,426 | $ 3,014 |
Accrued salaries, wages, and benefits | 211 | 142 |
Other accrued liabilities | 59 | 76 |
Other | 86 | 65 |
Gross deferred tax assets | 3,782 | 3,297 |
Less valuation allowance | (2,321) | (2,107) |
Deferred tax assets, net of valuation allowance | 1,461 | 1,190 |
Deferred tax liabilities | ||
Debt discount | (145) | (170) |
Property, plant, and equipment | (300) | (135) |
Unremitted earnings on certain subsidiaries | (123) | (121) |
Product and process technology | (85) | (81) |
Other | (59) | (28) |
Deferred tax liabilities | (712) | (535) |
Net deferred tax assets | 749 | 655 |
Reported as | ||
Deferred tax assets | 766 | 657 |
Net deferred tax assets | 749 | 655 |
Total basis differences for investments in indefinitely reinvested foreign subsidiaries | 12,910 | |
Other noncurrent liabilities | ||
Reported as | ||
Deferred tax liabilities (included in other noncurrent liabilities) | $ (17) | $ (2) |
Income Taxes Income Taxes - Valuation Allowances (Details 5) - USD ($) $ in Millions |
3 Months Ended | ||
---|---|---|---|
Dec. 01, 2016 |
Aug. 31, 2017 |
Sep. 01, 2016 |
|
Valuation Allowance [Line Items] | |||
Valuation allowance | $ 2,321 | $ 2,107 | |
Deferred tax assets recorded for Adoption of ASU 2016-09 | 3,782 | 3,297 | |
U.S. | |||
Valuation Allowance [Line Items] | |||
Valuation allowance | 1,520 | 1,160 | |
Japan | |||
Valuation Allowance [Line Items] | |||
Valuation allowance | 627 | 765 | |
Other foreign subsidiaries member | |||
Valuation Allowance [Line Items] | |||
Valuation allowance | $ 172 | $ 177 | |
Accounting Standards Update 2016-09 | |||
Valuation Allowance [Line Items] | |||
Deferred tax assets recorded for Adoption of ASU 2016-09 | $ 325 | ||
Valuation allowance against DTA recorded for adoption of ASU 2016-09 | $ 325 |
Income Taxes - Operating Loss Carryforwards (Details 6) $ in Millions |
Aug. 31, 2017
USD ($)
|
---|---|
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | $ 12,136 |
2018 - 2022 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 4,665 |
2023 - 2027 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 1,608 |
2028 - 2032 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 4,304 |
2033 - 2037 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 1,172 |
Indefinite | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 387 |
U.S. Federal | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 3,879 |
U.S. Federal | 2018 - 2022 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 0 |
U.S. Federal | 2023 - 2027 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 0 |
U.S. Federal | 2028 - 2032 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 3,027 |
U.S. Federal | 2033 - 2037 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 852 |
U.S. Federal | Indefinite | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 0 |
State | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 1,954 |
State | 2018 - 2022 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 27 |
State | 2023 - 2027 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 330 |
State | 2028 - 2032 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 1,277 |
State | 2033 - 2037 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 320 |
State | Indefinite | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 0 |
Foreign | Japan | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 4,072 |
Foreign | Japan | 2018 - 2022 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 3,485 |
Foreign | Japan | 2023 - 2027 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 587 |
Foreign | Japan | 2028 - 2032 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 0 |
Foreign | Japan | 2033 - 2037 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 0 |
Foreign | Japan | Indefinite | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 0 |
Foreign | Taiwan | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 1,500 |
Foreign | Taiwan | 2018 - 2022 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 473 |
Foreign | Taiwan | 2023 - 2027 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 685 |
Foreign | Taiwan | 2028 - 2032 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 0 |
Foreign | Taiwan | 2033 - 2037 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 0 |
Foreign | Taiwan | Indefinite | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 342 |
Foreign | Other Foreign | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 731 |
Foreign | Other Foreign | 2018 - 2022 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 680 |
Foreign | Other Foreign | 2023 - 2027 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 6 |
Foreign | Other Foreign | 2028 - 2032 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 0 |
Foreign | Other Foreign | 2033 - 2037 | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 0 |
Foreign | Other Foreign | Indefinite | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | $ 45 |
Income Taxes - Tax Credit Carryforwards (Details 7) $ in Millions |
Aug. 31, 2017
USD ($)
|
---|---|
Tax Credit Carryforward [Line Items] | |
Tax credit carryforwards | $ 649 |
2018 - 2022 | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforwards | 110 |
2023 - 2027 | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforwards | 136 |
2028 - 2032 | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforwards | 140 |
2033 - 2037 | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforwards | 206 |
Indefinite | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforwards | 57 |
U.S. Federal | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforwards | 416 |
U.S. Federal | 2018 - 2022 | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforwards | 48 |
U.S. Federal | 2023 - 2027 | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforwards | 99 |
U.S. Federal | 2028 - 2032 | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforwards | 64 |
U.S. Federal | 2033 - 2037 | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforwards | 205 |
U.S. Federal | Indefinite | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforwards | 0 |
State | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforwards | 233 |
State | 2018 - 2022 | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforwards | 62 |
State | 2023 - 2027 | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforwards | 37 |
State | 2028 - 2032 | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforwards | 76 |
State | 2033 - 2037 | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforwards | 1 |
State | Indefinite | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforwards | $ 57 |
Income Taxes - Unrecognized Tax Benefits (Details 8) - USD ($) $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Dec. 06, 2016 |
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||||
Beginning unrecognized tax benefits | $ 304 | $ 351 | $ 228 | |
Increases due to the Inotera Acquisition | 54 | 0 | 0 | |
Increases related to tax positions taken in current year | 15 | 5 | 119 | |
Foreign currency translation increases to tax positions | 2 | 0 | ||
Foreign currency translation (decreases) to tax positions | (6) | |||
Settlements with tax authorities | (47) | (47) | (1) | |
Expiration of statute of limitations | (1) | (5) | (6) | |
Increases related to tax positions from prior years | 0 | 0 | 17 | |
Ending unrecognized tax benefits | 327 | $ 304 | $ 351 | |
Unrecognized tax benefits that affect our effective tax rate | 8 | |||
Business Combination, Step Acquisition [Abstract] | ||||
Inotera net operating loss carryforwards | $ 12,136 | |||
Inotera | ||||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||||
Increases due to the Inotera Acquisition | $ 54 | |||
Business Combination, Step Acquisition [Abstract] | ||||
Inotera net operating loss carryforwards | $ 654 |
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 31, 2017 |
Jun. 01, 2017 |
Mar. 02, 2017 |
Dec. 01, 2016 |
Sep. 01, 2016 |
Jun. 02, 2016 |
Mar. 03, 2016 |
Dec. 03, 2015 |
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Earnings Per Share Reconciliation [Abstract] | |||||||||||
Net income (loss) attributable to Micron | $ 2,368 | $ 1,647 | $ 894 | $ 180 | $ (170) | $ (215) | $ (97) | $ 206 | $ 5,089 | $ (276) | $ 2,899 |
Dilutive effect related to equity method investment | 0 | 0 | (3) | ||||||||
Net income (loss) attributable to Micron shareholders – Diluted | $ 5,089 | $ (276) | $ 2,896 | ||||||||
Weighted Average Number of Shares Outstanding Reconciliation [Abstract] | |||||||||||
Weighted-average common shares outstanding - Basic (in shares) | 1,089 | 1,036 | 1,070 | ||||||||
Dilutive effect of equity plans and convertible notes (in shares) | 65 | 0 | 100 | ||||||||
Weighted-average common shares outstanding - Diluted (in shares) | 1,154 | 1,036 | 1,170 | ||||||||
Earnings Per Share, Basic [Abstract] | |||||||||||
Basic (in dollars per share) | $ 2.13 | $ 1.49 | $ 0.81 | $ 0.17 | $ (0.16) | $ (0.21) | $ (0.09) | $ 0.20 | $ 4.67 | $ (0.27) | $ 2.71 |
Earnings Per Share, Diluted [Abstract] | |||||||||||
Diluted (in dollars per share) | $ 1.99 | $ 1.40 | $ 0.77 | $ 0.16 | $ (0.16) | $ (0.21) | $ (0.09) | $ 0.19 | $ 4.41 | $ (0.27) | $ 2.47 |
Earnings Per Share - Potential Common Shares Excluded in the Computation of Diluted Earnings Per Share Because They Would Have Been Antidilutive (Details) - shares shares in Millions |
12 Months Ended | ||
---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Equity plans | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive potential common shares that could dilute basic earnings per share in the future (in shares) | 21 | 60 | 18 |
Convertible notes | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive potential common shares that could dilute basic earnings per share in the future (in shares) | 26 | 119 | 18 |
Segment Information (Details) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 31, 2017
USD ($)
|
Jun. 01, 2017
USD ($)
|
Mar. 02, 2017
USD ($)
|
Dec. 01, 2016
USD ($)
|
Sep. 01, 2016
USD ($)
|
Jun. 02, 2016
USD ($)
|
Mar. 03, 2016
USD ($)
|
Dec. 03, 2015
USD ($)
|
Aug. 31, 2017
USD ($)
segment
|
Sep. 01, 2016
USD ($)
|
Sep. 03, 2015
USD ($)
|
|
Reportable Segments | |||||||||||
Number of reportable segments | segment | 4 | ||||||||||
Segment Reporting Information, Additional Information [Abstract] | |||||||||||
Goodwill | $ 1,228 | $ 104 | $ 1,228 | $ 104 | |||||||
Net sales | |||||||||||
Net sales | 6,138 | $ 5,566 | $ 4,648 | $ 3,970 | 3,217 | $ 2,898 | $ 2,934 | $ 3,350 | 20,322 | 12,399 | $ 16,192 |
Operating income (loss) | |||||||||||
Stock-based compensation | (215) | (191) | (168) | ||||||||
Restructure and asset impairments | (18) | (67) | (3) | ||||||||
Other | 17 | 6 | 45 | ||||||||
Operating income (loss) | 2,502 | $ 1,963 | $ 1,044 | $ 359 | (32) | $ (27) | $ (5) | $ 232 | 5,868 | 168 | 2,998 |
Depreciation and amortization | |||||||||||
Depreciation and amortization expense | 3,861 | 2,980 | 2,667 | ||||||||
CNBU | |||||||||||
Segment Reporting Information, Additional Information [Abstract] | |||||||||||
Goodwill | 832 | 3 | 832 | 3 | |||||||
Net sales | |||||||||||
Net sales | 8,624 | 4,529 | 6,725 | ||||||||
SBU | |||||||||||
Segment Reporting Information, Additional Information [Abstract] | |||||||||||
Goodwill | 101 | $ 101 | 101 | 101 | |||||||
Net sales | |||||||||||
Net sales | 4,514 | 3,262 | 3,687 | ||||||||
MBU | |||||||||||
Segment Reporting Information, Additional Information [Abstract] | |||||||||||
Goodwill | 198 | 198 | |||||||||
Net sales | |||||||||||
Net sales | 4,424 | 2,569 | 3,692 | ||||||||
EBU | |||||||||||
Segment Reporting Information, Additional Information [Abstract] | |||||||||||
Goodwill | $ 97 | 97 | |||||||||
Net sales | |||||||||||
Net sales | 2,695 | 1,939 | 1,999 | ||||||||
All Other | |||||||||||
Net sales | |||||||||||
Net sales | 65 | 100 | 89 | ||||||||
Operating Segments | |||||||||||
Operating income (loss) | |||||||||||
Operating income (loss) | 6,232 | 450 | 3,179 | ||||||||
Operating Segments | CNBU | |||||||||||
Operating income (loss) | |||||||||||
Operating income (loss) | 3,755 | (25) | 1,549 | ||||||||
Depreciation and amortization | |||||||||||
Depreciation and amortization expense | 1,344 | 1,141 | 1,053 | ||||||||
Operating Segments | SBU | |||||||||||
Operating income (loss) | |||||||||||
Operating income (loss) | 552 | (123) | (39) | ||||||||
Depreciation and amortization | |||||||||||
Depreciation and amortization expense | 1,083 | 844 | 761 | ||||||||
Operating Segments | MBU | |||||||||||
Operating income (loss) | |||||||||||
Operating income (loss) | 927 | 97 | 1,166 | ||||||||
Depreciation and amortization | |||||||||||
Depreciation and amortization expense | 926 | 580 | 512 | ||||||||
Operating Segments | EBU | |||||||||||
Operating income (loss) | |||||||||||
Operating income (loss) | 975 | 473 | 459 | ||||||||
Depreciation and amortization | |||||||||||
Depreciation and amortization expense | 484 | 379 | 321 | ||||||||
Operating Segments | All Other | |||||||||||
Operating income (loss) | |||||||||||
Operating income (loss) | 23 | 28 | 44 | ||||||||
Depreciation and amortization | |||||||||||
Depreciation and amortization expense | 13 | 20 | 9 | ||||||||
Unallocated | |||||||||||
Operating income (loss) | |||||||||||
Stock-based compensation | (215) | (191) | (167) | ||||||||
Restructure and asset impairments | (18) | (67) | (3) | ||||||||
Flow-through of Inotera inventory step up | (107) | 0 | 0 | ||||||||
Other | (24) | (24) | (11) | ||||||||
Operating income (loss) | (364) | (282) | (181) | ||||||||
Depreciation and amortization | |||||||||||
Depreciation and amortization expense | $ 11 | $ 16 | $ 11 |
Product Sales (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 31, 2017 |
Jun. 01, 2017 |
Mar. 02, 2017 |
Dec. 01, 2016 |
Sep. 01, 2016 |
Jun. 02, 2016 |
Mar. 03, 2016 |
Dec. 03, 2015 |
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Revenue from External Customer [Line Items] | |||||||||||
Net sales | $ 6,138 | $ 5,566 | $ 4,648 | $ 3,970 | $ 3,217 | $ 2,898 | $ 2,934 | $ 3,350 | $ 20,322 | $ 12,399 | $ 16,192 |
DRAM | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Net sales | 12,963 | 7,207 | 10,339 | ||||||||
Trade NAND | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Net sales | 6,228 | 4,138 | 4,811 | ||||||||
Non-Trade | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Net sales | 553 | 501 | 463 | ||||||||
Other | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Net sales | $ 578 | $ 553 | $ 579 |
Certain Concentrations (Details) - Net Sales |
12 Months Ended | ||
---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Product Concentration Risk | Compute and graphics | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage of net sales (in hundredths) | 20.00% | 20.00% | 25.00% |
Product Concentration Risk | Mobile | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage of net sales (in hundredths) | 20.00% | 20.00% | 25.00% |
Product Concentration Risk | SSDs and other storage | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage of net sales (in hundredths) | 20.00% | 20.00% | 20.00% |
Product Concentration Risk | Automotive, industrial, medical, and other embedded | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage of net sales (in hundredths) | 15.00% | 15.00% | 10.00% |
Product Concentration Risk | Server | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage of net sales (in hundredths) | 15.00% | 10.00% | 15.00% |
Customer Concentration Risk | Kingston | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage of net sales (in hundredths) | 10.00% | 11.00% | |
Customer Concentration Risk | Intel | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage of net sales (in hundredths) | 14.00% |
Geographic Information (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 31, 2017 |
Jun. 01, 2017 |
Mar. 02, 2017 |
Dec. 01, 2016 |
Sep. 01, 2016 |
Jun. 02, 2016 |
Mar. 03, 2016 |
Dec. 03, 2015 |
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Geographic Areas, Revenues from External Customers [Abstract] | |||||||||||
Net sales | $ 6,138 | $ 5,566 | $ 4,648 | $ 3,970 | $ 3,217 | $ 2,898 | $ 2,934 | $ 3,350 | $ 20,322 | $ 12,399 | $ 16,192 |
Geographic Areas, Long-Lived Assets [Abstract] | |||||||||||
Property, plant, and equipment, net | 19,431 | 14,686 | 19,431 | 14,686 | |||||||
China | |||||||||||
Geographic Areas, Revenues from External Customers [Abstract] | |||||||||||
Net sales | 10,388 | 5,301 | 6,658 | ||||||||
Geographic Areas, Long-Lived Assets [Abstract] | |||||||||||
Property, plant, and equipment, net | 453 | 491 | 453 | 491 | |||||||
United States | |||||||||||
Geographic Areas, Revenues from External Customers [Abstract] | |||||||||||
Net sales | 2,763 | 1,925 | 2,565 | ||||||||
Geographic Areas, Long-Lived Assets [Abstract] | |||||||||||
Property, plant, and equipment, net | 4,253 | 3,890 | 4,253 | 3,890 | |||||||
Taiwan | |||||||||||
Geographic Areas, Revenues from External Customers [Abstract] | |||||||||||
Net sales | 2,544 | 1,521 | 2,241 | ||||||||
Geographic Areas, Long-Lived Assets [Abstract] | |||||||||||
Property, plant, and equipment, net | 6,519 | 2,081 | 6,519 | 2,081 | |||||||
Asia Pacific (excluding China and Japan) | |||||||||||
Geographic Areas, Revenues from External Customers [Abstract] | |||||||||||
Net sales | 1,808 | 1,610 | 2,037 | ||||||||
Singapore | |||||||||||
Geographic Areas, Long-Lived Assets [Abstract] | |||||||||||
Property, plant, and equipment, net | 5,261 | 5,442 | 5,261 | 5,442 | |||||||
Europe | |||||||||||
Geographic Areas, Revenues from External Customers [Abstract] | |||||||||||
Net sales | 1,360 | 937 | 1,248 | ||||||||
Japan | |||||||||||
Geographic Areas, Revenues from External Customers [Abstract] | |||||||||||
Net sales | 1,025 | 831 | 1,026 | ||||||||
Geographic Areas, Long-Lived Assets [Abstract] | |||||||||||
Property, plant, and equipment, net | 2,827 | 2,685 | 2,827 | 2,685 | |||||||
Other | |||||||||||
Geographic Areas, Revenues from External Customers [Abstract] | |||||||||||
Net sales | 434 | 274 | $ 417 | ||||||||
Geographic Areas, Long-Lived Assets [Abstract] | |||||||||||
Property, plant, and equipment, net | $ 118 | $ 97 | $ 118 | $ 97 |
Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Millions |
3 Months Ended | 12 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 31, 2017 |
Jun. 01, 2017 |
Mar. 02, 2017 |
Dec. 01, 2016 |
Sep. 01, 2016 |
Jun. 02, 2016 |
Mar. 03, 2016 |
Dec. 03, 2015 |
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
Dec. 05, 2016 |
|
Net sales | $ 6,138 | $ 5,566 | $ 4,648 | $ 3,970 | $ 3,217 | $ 2,898 | $ 2,934 | $ 3,350 | $ 20,322 | $ 12,399 | $ 16,192 | |
Gross margin | 3,112 | 2,609 | 1,704 | 1,011 | 579 | 498 | 579 | 849 | 8,436 | 2,505 | 5,215 | |
Operating income (loss) | 2,502 | 1,963 | 1,044 | 359 | (32) | (27) | (5) | 232 | 5,868 | 168 | 2,998 | |
Net income (loss) | 2,369 | 1,647 | 894 | 180 | (170) | (215) | (96) | 206 | 5,090 | (275) | 2,899 | |
Net income (loss) attributable to Micron | $ 2,368 | $ 1,647 | $ 894 | $ 180 | $ (170) | $ (215) | $ (97) | $ 206 | $ 5,089 | $ (276) | $ 2,899 | |
Earnings (loss) per share | ||||||||||||
Basic (in dollars per share) | $ 2.13 | $ 1.49 | $ 0.81 | $ 0.17 | $ (0.16) | $ (0.21) | $ (0.09) | $ 0.20 | $ 4.67 | $ (0.27) | $ 2.71 | |
Diluted (in dollars per share) | $ 1.99 | $ 1.40 | $ 0.77 | $ 0.16 | $ (0.16) | $ (0.21) | $ (0.09) | $ 0.19 | $ 4.41 | $ (0.27) | $ 2.47 | |
Selected Quarterly Financial Information [Abstract] | ||||||||||||
Gain on remeasurement of previously-held equity interest in Inotera | $ 71 | $ 0 | $ 0 | |||||||||
Loss on debt repurchases and conversions | $ (37) | $ (61) | (100) | (4) | $ (49) | |||||||
2016 Restructuring Plan | ||||||||||||
Selected Quarterly Financial Information [Abstract] | ||||||||||||
2016 Restructuring Plan | $ 58 | $ 33 | $ 58 | |||||||||
Inotera | ||||||||||||
Selected Quarterly Financial Information [Abstract] | ||||||||||||
Gain on remeasurement of previously-held equity interest in Inotera | $ 71 | |||||||||||
Ownership interest in Inotera immediately prior to acquisition (in hundredths) | 33.00% |
Schedule I Condensed Parent Company Statement of Operations (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 31, 2017 |
Jun. 01, 2017 |
Mar. 02, 2017 |
Dec. 01, 2016 |
Sep. 01, 2016 |
Jun. 02, 2016 |
Mar. 03, 2016 |
Dec. 03, 2015 |
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Condensed Income Statements, Captions [Line Items] | |||||||||||
Net sales | $ 6,138 | $ 5,566 | $ 4,648 | $ 3,970 | $ 3,217 | $ 2,898 | $ 2,934 | $ 3,350 | $ 20,322 | $ 12,399 | $ 16,192 |
Costs and expenses | |||||||||||
Cost of goods sold | 11,886 | 9,894 | 10,977 | ||||||||
Selling, general, and administrative | 743 | 659 | 719 | ||||||||
Research and development | 1,824 | 1,617 | 1,540 | ||||||||
Other operating (income) expense, net | (17) | (6) | (45) | ||||||||
Operating income | 2,502 | 1,963 | 1,044 | 359 | (32) | (27) | (5) | 232 | 5,868 | 168 | 2,998 |
Other non-operating income (expense), net | (112) | (54) | (53) | ||||||||
Income from continuing operations before equity method investments, income taxes, and noncontrolling interest | 5,196 | (281) | 2,609 | ||||||||
Income tax (provision) benefit | (114) | (19) | (157) | ||||||||
Equity in net income (loss) of equity method investees | 8 | 25 | 447 | ||||||||
Net income (loss) attributable to Micron | $ 2,368 | $ 1,647 | $ 894 | $ 180 | $ (170) | $ (215) | $ (97) | $ 206 | 5,089 | (276) | 2,899 |
Other comprehensive income (loss) | 64 | (48) | (44) | ||||||||
Comprehensive income (loss) attributable to Micron | 5,153 | (324) | 2,856 | ||||||||
Micron Technology, Inc. | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Net sales | 5,652 | 5,529 | 5,547 | ||||||||
Costs and expenses | |||||||||||
Cost of goods sold | 3,478 | 3,625 | 3,329 | ||||||||
Selling, general, and administrative | 331 | 266 | 299 | ||||||||
Research and development | 1,551 | 1,500 | 1,483 | ||||||||
Other operating (income) expense, net | 0 | 26 | (12) | ||||||||
Total costs and expenses | 5,360 | 5,417 | 5,099 | ||||||||
Operating income | 292 | 112 | 448 | ||||||||
Interest income (expense), net | (366) | (348) | (273) | ||||||||
Other non-operating income (expense), net | (69) | 182 | (85) | ||||||||
Income from continuing operations before equity method investments, income taxes, and noncontrolling interest | (143) | (54) | 90 | ||||||||
Income tax (provision) benefit | 22 | 10 | 38 | ||||||||
Equity in earnings (loss) of subsidiaries | 5,210 | (224) | 2,773 | ||||||||
Equity in net income (loss) of equity method investees | 0 | (8) | (2) | ||||||||
Net income (loss) attributable to Micron | 5,089 | (276) | 2,899 | ||||||||
Other comprehensive income (loss) | 64 | (48) | (43) | ||||||||
Comprehensive income (loss) attributable to Micron | $ 5,153 | $ (324) | $ 2,856 |
Schedule I Condensed Parent Company Balance Sheets (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
Aug. 31, 2017 |
Sep. 01, 2016 |
||
---|---|---|---|---|
Assets | ||||
Cash and equivalents | $ 5,109 | $ 4,140 | ||
Short-term investments | 319 | 258 | ||
Receivables | 3,759 | 2,068 | ||
Finished goods | 856 | 899 | ||
Work in process | 1,968 | 1,761 | ||
Raw materials and supplies | 299 | 229 | ||
Other current assets | 147 | 140 | ||
Total current assets | 12,457 | 9,495 | ||
Long-term marketable investments | [1] | 617 | 414 | |
Property, plant, and equipment, net | 19,431 | 14,686 | ||
Other noncurrent assets | 434 | 356 | ||
Total assets | 35,336 | 27,540 | ||
Liabilities and equity | ||||
Accounts payable and accrued expenses | 3,664 | 3,879 | ||
Current debt | 1,262 | 756 | ||
Total current liabilities | 5,334 | 4,835 | ||
Long-term debt | 9,872 | 9,154 | ||
Other noncurrent liabilities | 639 | 623 | ||
Total liabilities | 15,845 | 14,612 | ||
Commitments and contingencies | ||||
Redeemable convertible notes | 21 | 0 | ||
Micron shareholders' equity | ||||
Common stock, $0.10 par value, 3,000 shares authorized, 1,116 shares issued and 1,112 outstanding (1,094 shares issued and 1,040 outstanding as of September 1, 2016) | 112 | 109 | ||
Total Micron shareholders' equity | 18,621 | 12,080 | ||
Total liabilities and equity | $ 35,336 | $ 27,540 | ||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Common stock, par value (in dollars per share) | $ 0.10 | $ 0.10 | ||
Common Stock, authorized shares (in shares) | 3,000 | 3,000 | ||
Common Stock, issued (in shares) | 1,116 | 1,094 | ||
Common Stock, outstanding (in shares) | 1,112 | 1,040 | ||
Micron Technology, Inc. | ||||
Assets | ||||
Cash and equivalents | $ 2,197 | $ 2,716 | ||
Short-term investments | 319 | 258 | ||
Receivables | 112 | 102 | ||
Notes and accounts receivable from subsidiaries | 1,470 | 1,159 | ||
Finished goods | 47 | 49 | ||
Work in process | 215 | 244 | ||
Raw materials and supplies | 89 | 91 | ||
Other current assets | 42 | 54 | ||
Total current assets | 4,491 | 4,673 | ||
Investment In subsidiaries | 18,169 | 12,897 | ||
Long-term marketable investments | 617 | 414 | ||
Noncurrent notes receivable from and prepaid expenses to subsidiaries | 616 | 709 | ||
Property, plant, and equipment, net | 2,330 | 2,026 | ||
Other noncurrent assets | 335 | 412 | ||
Total assets | 26,558 | 21,131 | ||
Liabilities and equity | ||||
Accounts payable and accrued expenses | 929 | 916 | ||
Short-term debt and accounts payable to subsidiaries | 700 | 314 | ||
Current debt | 530 | 75 | ||
Other current liabilities | 9 | 16 | ||
Total current liabilities | 2,168 | 1,321 | ||
Long-term debt | 5,320 | 7,313 | ||
Other noncurrent liabilities | 428 | 417 | ||
Total liabilities | 7,916 | 9,051 | ||
Commitments and contingencies | ||||
Redeemable convertible notes | 21 | 0 | ||
Micron shareholders' equity | ||||
Common stock, $0.10 par value, 3,000 shares authorized, 1,116 shares issued and 1,112 outstanding (1,094 shares issued and 1,040 outstanding as of September 1, 2016) | 112 | 109 | ||
Other equity | 18,509 | 11,971 | ||
Total Micron shareholders' equity | 18,621 | 12,080 | ||
Total liabilities and equity | $ 26,558 | $ 21,131 | ||
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Common stock, par value (in dollars per share) | $ 0.10 | $ 0.10 | ||
Common Stock, authorized shares (in shares) | 3,000 | 3,000 | ||
Common Stock, issued (in shares) | 1,116 | 1,094 | ||
Common Stock, outstanding (in shares) | 1,112 | 1,040 | ||
|
Schedule I Condensed Parent Company Cash Flows (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Condensed Cash Flow Statements, Captions [Line Items] | |||
Net cash provided by operating activities | $ 8,153 | $ 3,168 | $ 5,208 |
Cash flows from investing activities | |||
Purchases of available-for-sale securities | (1,239) | (1,026) | (4,392) |
Expenditures for property, plant, and equipment | (4,734) | (5,817) | (4,021) |
Payments to settle hedging activities | (274) | (152) | (132) |
Proceeds from sales of available-for-sale securities | 776 | 2,310 | 1,490 |
Proceeds from settlement of hedging activities | 184 | 335 | 56 |
Other | 190 | (74) | 25 |
Net cash provided by (used for) investing activities | (7,537) | (3,044) | (6,216) |
Cash flows from financing activities | |||
Repayments of debt | (2,558) | (870) | (2,329) |
Cash paid to acquire treasury stock | (35) | (148) | (884) |
Proceeds from issuance of stock under equity plans | 142 | 48 | 74 |
Proceeds from issuance of debt | 3,311 | 2,199 | 2,212 |
Proceeds from equipment sale-leaseback transactions | 0 | 765 | 291 |
Other | 8 | (203) | 13 |
Net cash provided by (used for) financing activities | 349 | 1,745 | (718) |
Effect of changes in currency exchange rates on cash, cash equivalents, and restricted cash | (12) | 19 | (133) |
Net increase (decrease) in cash, cash equivalents, and restricted cash | 953 | 1,888 | (1,859) |
Cash, cash equivalents, and restricted cash at beginning of period | 4,263 | 2,375 | 4,234 |
Cash, cash equivalents, and restricted cash at end of period | 5,216 | 4,263 | 2,375 |
Micron Technology, Inc. | |||
Condensed Cash Flow Statements, Captions [Line Items] | |||
Net cash provided by operating activities | 1,073 | 836 | 995 |
Cash flows from investing activities | |||
Purchases of available-for-sale securities | (1,239) | (859) | (1,799) |
Expenditures for property, plant, and equipment | (694) | (651) | (609) |
Payments to settle hedging activities | (279) | (155) | (135) |
Cash contributions to subsidiaries | (2) | (111) | (151) |
Cash paid for acquisitions | 0 | (216) | (57) |
Proceeds from sales of available-for-sale securities | 776 | 1,015 | 1,045 |
Proceeds from settlement of hedging activities | 195 | 337 | 78 |
Proceeds from maturities of available-for-sale securities | 194 | 582 | 536 |
(Payments) proceeds on loans to subsidiaries, net | 54 | (550) | 65 |
Cash distributions from subsidiaries | 33 | 47 | 33 |
Other | 7 | 72 | (7) |
Net cash provided by (used for) investing activities | (955) | (489) | (1,001) |
Cash flows from financing activities | |||
Repayments of debt | (1,711) | (332) | (1,645) |
Payments of licensing obligations | (83) | (83) | (82) |
Cash paid to acquire treasury stock | (35) | (148) | (884) |
Proceeds from issuance of stock to Nanya | 986 | 0 | 0 |
Proceeds from issuance of stock under equity plans | 142 | 48 | 74 |
Proceeds from settlement of capped calls | 125 | 0 | 0 |
Proceeds from issuance of debt | 0 | 1,993 | 2,050 |
Proceeds from equipment sale-leaseback transactions | 0 | 216 | 0 |
Other | (69) | (46) | (36) |
Net cash provided by (used for) financing activities | (645) | 1,648 | (523) |
Effect of changes in currency exchange rates on cash, cash equivalents, and restricted cash | 8 | 0 | 0 |
Net increase (decrease) in cash, cash equivalents, and restricted cash | (519) | 1,995 | (529) |
Cash, cash equivalents, and restricted cash at beginning of period | 2,716 | 721 | 1,250 |
Cash, cash equivalents, and restricted cash at end of period | $ 2,197 | $ 2,716 | $ 721 |
Schedule I Condensed Parent Company Debt Disclosures (Details) $ in Millions |
1 Months Ended | 12 Months Ended | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 31, 2017
USD ($)
|
Aug. 31, 2017
USD ($)
d
|
Sep. 01, 2016
USD ($)
|
Apr. 30, 2016
USD ($)
|
Aug. 28, 2014
USD ($)
|
|||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Current debt | $ 1,262 | $ 1,262 | $ 756 | ||||||||||||||||||
Long-term debt | 9,872 | 9,872 | 9,154 | ||||||||||||||||||
Debt | [1] | 11,134 | 11,134 | 9,910 | |||||||||||||||||
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||||||||||||||||||||
2018 | 402 | 402 | |||||||||||||||||||
2019 | 334 | 334 | |||||||||||||||||||
2020 | 229 | 229 | |||||||||||||||||||
2021 | 97 | 97 | |||||||||||||||||||
2022 | 62 | 62 | |||||||||||||||||||
2023 and thereafter | 227 | 227 | |||||||||||||||||||
Capital Leases, Future Minimum Payments, Interest Included in Payments | (161) | (161) | |||||||||||||||||||
Capital Lease Obligations | 1,190 | 1,190 | |||||||||||||||||||
Capital lease obligations | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Current debt | 357 | 357 | 380 | ||||||||||||||||||
Long-term debt | 833 | 833 | 1,026 | ||||||||||||||||||
Debt | [1] | $ 1,190 | $ 1,190 | 1,406 | |||||||||||||||||
Corporate bonds | 2022 Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 5.88% | 5.88% | |||||||||||||||||||
Effective interest rate (in thousandths) | 6.14% | 6.14% | |||||||||||||||||||
Current debt | $ 0 | $ 0 | 0 | ||||||||||||||||||
Long-term debt | 0 | 0 | 590 | ||||||||||||||||||
Debt | [1] | $ 0 | $ 0 | 590 | |||||||||||||||||
Corporate bonds | 2023 Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 5.25% | 5.25% | |||||||||||||||||||
Effective interest rate (in thousandths) | 5.43% | 5.43% | |||||||||||||||||||
Current debt | $ 0 | $ 0 | 0 | ||||||||||||||||||
Long-term debt | 991 | 991 | 990 | ||||||||||||||||||
Debt | [1] | $ 991 | $ 991 | 990 | |||||||||||||||||
Corporate bonds | 2024 Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 5.25% | 5.25% | |||||||||||||||||||
Effective interest rate (in thousandths) | 5.38% | 5.38% | |||||||||||||||||||
Current debt | $ 0 | $ 0 | 0 | ||||||||||||||||||
Long-term debt | 546 | 546 | 546 | ||||||||||||||||||
Debt | [1] | $ 546 | $ 546 | 546 | |||||||||||||||||
Corporate bonds | 2025 Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 5.50% | 5.50% | |||||||||||||||||||
Effective interest rate (in thousandths) | 5.56% | 5.56% | |||||||||||||||||||
Current debt | $ 0 | $ 0 | 0 | ||||||||||||||||||
Long-term debt | 515 | 515 | 1,139 | ||||||||||||||||||
Debt | [1] | $ 515 | $ 515 | 1,139 | |||||||||||||||||
Corporate bonds | 2026 Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 5.63% | 5.63% | |||||||||||||||||||
Effective interest rate (in thousandths) | 5.73% | 5.73% | |||||||||||||||||||
Current debt | $ 0 | $ 0 | 0 | ||||||||||||||||||
Long-term debt | 128 | 128 | 446 | ||||||||||||||||||
Debt | [1] | $ 128 | $ 128 | 446 | |||||||||||||||||
Secured Debt | 2022 Term Loan B | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 3.80% | 3.80% | |||||||||||||||||||
Effective interest rate (in thousandths) | 4.22% | 4.22% | |||||||||||||||||||
Current debt | $ 5 | $ 5 | 5 | ||||||||||||||||||
Long-term debt | 725 | 725 | 730 | ||||||||||||||||||
Debt | [1] | $ 730 | $ 730 | 735 | |||||||||||||||||
Debt Instrument, Face Amount | $ 750 | ||||||||||||||||||||
Secured Debt | 2023 Secured Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 7.50% | 7.50% | |||||||||||||||||||
Effective interest rate (in thousandths) | 7.69% | 7.69% | |||||||||||||||||||
Current debt | $ 0 | $ 0 | 0 | ||||||||||||||||||
Long-term debt | 1,238 | 1,238 | 1,237 | ||||||||||||||||||
Debt | [1] | 1,238 | 1,238 | 1,237 | |||||||||||||||||
Debt Instrument, Face Amount | $ 1,250 | ||||||||||||||||||||
Secured Debt | Secured Notes 2022 TLB and 2023 Senior Secured Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Debt Instrument, Collateral Amount | $ 6,220 | $ 6,220 | |||||||||||||||||||
Convertible Debt | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Conversion rights, threshold percentage of applicable conversion price (in hundredths) | 130.00% | ||||||||||||||||||||
Conversion rights, minimum number of trading days (in days) | d | 20 | ||||||||||||||||||||
Conversion rights, consecutive trading period (in days) | d | 30 | ||||||||||||||||||||
Derivative debt liability | $ 275 | ||||||||||||||||||||
Convertible Debt | 2032C Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 2.38% | 2.38% | |||||||||||||||||||
Effective interest rate (in thousandths) | 5.95% | 5.95% | |||||||||||||||||||
Current debt | $ 0 | [2] | $ 0 | [2] | 0 | [3] | |||||||||||||||
Long-term debt | 211 | [2] | 211 | [2] | 204 | [3] | |||||||||||||||
Debt | [1] | $ 211 | $ 211 | 204 | |||||||||||||||||
Convertible Debt | 2032D Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 3.13% | 3.13% | |||||||||||||||||||
Effective interest rate (in thousandths) | 6.33% | 6.33% | |||||||||||||||||||
Current debt | $ 0 | [2] | $ 0 | [2] | 0 | [3] | |||||||||||||||
Long-term debt | 159 | [2] | 159 | [2] | 154 | [3] | |||||||||||||||
Debt | [1] | $ 159 | $ 159 | 154 | |||||||||||||||||
Convertible Debt | 2033E Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 1.63% | 1.63% | |||||||||||||||||||
Effective interest rate (in thousandths) | 4.50% | 4.50% | |||||||||||||||||||
Current debt | [2] | $ 202 | $ 202 | 0 | |||||||||||||||||
Long-term debt | [2] | 0 | 0 | 168 | |||||||||||||||||
Debt | [1] | 202 | 202 | 168 | |||||||||||||||||
Derivative debt liability | 31 | $ 31 | |||||||||||||||||||
Principle amount of 2033E Notes elected to be settled in cash | $ 16 | ||||||||||||||||||||
Convertible Debt | 2033F Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 2.13% | 2.13% | |||||||||||||||||||
Effective interest rate (in thousandths) | 4.93% | 4.93% | |||||||||||||||||||
Current debt | [2] | $ 278 | $ 278 | 0 | |||||||||||||||||
Long-term debt | [2] | 0 | 0 | 271 | |||||||||||||||||
Debt | [1] | $ 278 | $ 278 | 271 | |||||||||||||||||
Convertible Debt | 2043G Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 3.00% | 3.00% | |||||||||||||||||||
Effective interest rate (in thousandths) | 6.76% | 6.76% | |||||||||||||||||||
Current debt | $ 0 | $ 0 | 0 | ||||||||||||||||||
Long-term debt | 671 | 671 | 657 | ||||||||||||||||||
Debt | [1] | 671 | 671 | 657 | |||||||||||||||||
Original principal amount of 2043G Notes | 820 | 820 | |||||||||||||||||||
Debt Instrument, Scheduled Accreted Principal Amount | 917 | 917 | |||||||||||||||||||
Debt Instrument, Face Amount | 1,025 | 1,025 | |||||||||||||||||||
Notes Payable, Other Payables | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Current debt | 164 | 164 | 182 | ||||||||||||||||||
Long-term debt | 44 | 44 | 316 | ||||||||||||||||||
Debt | [1] | 208 | 208 | 498 | |||||||||||||||||
Loans Payable | |||||||||||||||||||||
Long-term Debt, by Maturity [Abstract] | |||||||||||||||||||||
2018 | 641 | 641 | |||||||||||||||||||
2019 | 1,166 | 1,166 | |||||||||||||||||||
2020 | 1,727 | 1,727 | |||||||||||||||||||
2021 | 1,269 | 1,269 | |||||||||||||||||||
2022 | 1,204 | 1,204 | |||||||||||||||||||
2023 and thereafter | 4,365 | 4,365 | |||||||||||||||||||
Debt Instrument, Unamortized Discount | (428) | (428) | |||||||||||||||||||
Notes Payable | 9,944 | 9,944 | |||||||||||||||||||
Micron Technology, Inc. | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Current debt | 530 | 530 | 75 | ||||||||||||||||||
Long-term debt | 5,320 | 5,320 | 7,313 | ||||||||||||||||||
Debt | 5,850 | 5,850 | 7,388 | ||||||||||||||||||
Subordinated Debt | 3,700 | 3,700 | |||||||||||||||||||
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||||||||||||||||||||
2018 | 51 | 51 | |||||||||||||||||||
2019 | 44 | 44 | |||||||||||||||||||
2020 | 56 | 56 | |||||||||||||||||||
2021 | 32 | 32 | |||||||||||||||||||
2022 | 0 | 0 | |||||||||||||||||||
2023 and thereafter | 0 | 0 | |||||||||||||||||||
Capital Leases, Future Minimum Payments, Interest Included in Payments | (12) | (12) | |||||||||||||||||||
Capital Lease Obligations | 171 | 171 | |||||||||||||||||||
Micron Technology, Inc. | Guarantee of Subsidiary Obligation | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Maximum exposure from guarantees to subsidiaries | 4,160 | 4,160 | |||||||||||||||||||
Micron Technology, Inc. | Capital lease obligations | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Current debt | 45 | 45 | 70 | ||||||||||||||||||
Long-term debt | 126 | 126 | 171 | ||||||||||||||||||
Debt | 171 | 171 | 241 | ||||||||||||||||||
Micron Technology, Inc. | Capital lease obligations | Equipment | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Debt Instrument, Collateral Amount | $ 155 | $ 155 | 226 | ||||||||||||||||||
Micron Technology, Inc. | Corporate bonds | 2022 Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 5.88% | 5.88% | |||||||||||||||||||
Effective interest rate (in thousandths) | 6.14% | 6.14% | |||||||||||||||||||
Current debt | $ 0 | $ 0 | 0 | ||||||||||||||||||
Long-term debt | 0 | 0 | 590 | ||||||||||||||||||
Debt | $ 0 | $ 0 | 590 | ||||||||||||||||||
Micron Technology, Inc. | Corporate bonds | 2023 Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 5.25% | 5.25% | |||||||||||||||||||
Effective interest rate (in thousandths) | 5.43% | 5.43% | |||||||||||||||||||
Current debt | $ 0 | $ 0 | 0 | ||||||||||||||||||
Long-term debt | 991 | 991 | 990 | ||||||||||||||||||
Debt | $ 991 | $ 991 | 990 | ||||||||||||||||||
Micron Technology, Inc. | Corporate bonds | 2024 Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 5.25% | 5.25% | |||||||||||||||||||
Effective interest rate (in thousandths) | 5.38% | 5.38% | |||||||||||||||||||
Current debt | $ 0 | $ 0 | 0 | ||||||||||||||||||
Long-term debt | 546 | 546 | 546 | ||||||||||||||||||
Debt | $ 546 | $ 546 | 546 | ||||||||||||||||||
Micron Technology, Inc. | Corporate bonds | 2025 Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 5.50% | 5.50% | |||||||||||||||||||
Effective interest rate (in thousandths) | 5.56% | 5.56% | |||||||||||||||||||
Current debt | $ 0 | $ 0 | 0 | ||||||||||||||||||
Long-term debt | 515 | 515 | 1,139 | ||||||||||||||||||
Debt | $ 515 | $ 515 | 1,139 | ||||||||||||||||||
Micron Technology, Inc. | Corporate bonds | 2026 Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 5.63% | 5.63% | |||||||||||||||||||
Effective interest rate (in thousandths) | 5.73% | 5.73% | |||||||||||||||||||
Current debt | $ 0 | $ 0 | 0 | ||||||||||||||||||
Long-term debt | 128 | 128 | 446 | ||||||||||||||||||
Debt | $ 128 | $ 128 | 446 | ||||||||||||||||||
Micron Technology, Inc. | Secured Debt | 2022 Term Loan B | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 3.80% | 3.80% | |||||||||||||||||||
Effective interest rate (in thousandths) | 4.22% | 4.22% | |||||||||||||||||||
Current debt | $ 5 | $ 5 | 5 | ||||||||||||||||||
Long-term debt | 725 | 725 | 730 | ||||||||||||||||||
Debt | $ 730 | $ 730 | 735 | ||||||||||||||||||
Micron Technology, Inc. | Secured Debt | 2023 Secured Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 7.50% | 7.50% | |||||||||||||||||||
Effective interest rate (in thousandths) | 7.69% | 7.69% | |||||||||||||||||||
Current debt | $ 0 | $ 0 | 0 | ||||||||||||||||||
Long-term debt | 1,238 | 1,238 | 1,237 | ||||||||||||||||||
Debt | 1,238 | 1,238 | 1,237 | ||||||||||||||||||
Micron Technology, Inc. | Secured Debt | Secured Notes 2022 TLB and 2023 Senior Secured Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Debt Instrument, Collateral Amount | 8,360 | 8,360 | |||||||||||||||||||
Debt Instrument, Collateral Amount Attributable To Investment in Subsidiaries | $ 2,140 | $ 2,140 | |||||||||||||||||||
Micron Technology, Inc. | Convertible Debt | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Conversion rights, threshold percentage of applicable conversion price (in hundredths) | 130.00% | ||||||||||||||||||||
Conversion rights, minimum number of trading days (in days) | d | 20 | ||||||||||||||||||||
Conversion rights, consecutive trading period (in days) | d | 30 | ||||||||||||||||||||
Micron Technology, Inc. | Convertible Debt | 2032C Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 2.38% | 2.38% | |||||||||||||||||||
Effective interest rate (in thousandths) | 5.95% | 5.95% | |||||||||||||||||||
Current debt | [3] | $ 0 | $ 0 | 0 | |||||||||||||||||
Long-term debt | [3] | 211 | 211 | 204 | |||||||||||||||||
Debt | [3] | $ 211 | $ 211 | 204 | |||||||||||||||||
Micron Technology, Inc. | Convertible Debt | 2032D Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 3.13% | 3.13% | |||||||||||||||||||
Effective interest rate (in thousandths) | 6.33% | 6.33% | |||||||||||||||||||
Current debt | [3] | $ 0 | $ 0 | 0 | |||||||||||||||||
Long-term debt | [3] | 159 | 159 | 154 | |||||||||||||||||
Debt | [3] | $ 159 | $ 159 | 154 | |||||||||||||||||
Micron Technology, Inc. | Convertible Debt | 2033E Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 1.63% | 1.63% | |||||||||||||||||||
Effective interest rate (in thousandths) | 4.50% | 4.50% | |||||||||||||||||||
Current debt | [3] | $ 202 | [4] | $ 202 | [4] | 0 | |||||||||||||||
Long-term debt | [3] | 0 | [4] | 0 | [4] | 168 | |||||||||||||||
Debt | [3] | 202 | [4] | 202 | [4] | 168 | |||||||||||||||
Derivative debt liability | $ 31 | 31 | |||||||||||||||||||
Principle amount of 2033E Notes elected to be settled in cash | $ 16 | ||||||||||||||||||||
Micron Technology, Inc. | Convertible Debt | 2033F Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 2.13% | 2.13% | |||||||||||||||||||
Effective interest rate (in thousandths) | 4.93% | 4.93% | |||||||||||||||||||
Current debt | [3] | $ 278 | $ 278 | 0 | |||||||||||||||||
Long-term debt | [3] | 0 | 0 | 271 | |||||||||||||||||
Debt | [3] | $ 278 | $ 278 | 271 | |||||||||||||||||
Micron Technology, Inc. | Convertible Debt | 2043G Notes | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 3.00% | 3.00% | |||||||||||||||||||
Effective interest rate (in thousandths) | 6.76% | 6.76% | |||||||||||||||||||
Current debt | [5] | $ 0 | $ 0 | 0 | |||||||||||||||||
Long-term debt | [5] | 671 | 671 | 657 | |||||||||||||||||
Debt | 671 | [6] | 671 | [6] | 657 | [5] | |||||||||||||||
Original principal amount of 2043G Notes | 820 | 820 | |||||||||||||||||||
Debt Instrument, Scheduled Accreted Principal Amount | 917 | 917 | |||||||||||||||||||
Debt Instrument, Face Amount | $ 1,030 | $ 1,030 | |||||||||||||||||||
Micron Technology, Inc. | Notes Payable, Other Payables | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 1.65% | 1.65% | |||||||||||||||||||
Effective interest rate (in thousandths) | 1.65% | 1.65% | |||||||||||||||||||
Current debt | $ 0 | $ 0 | 0 | ||||||||||||||||||
Long-term debt | 10 | 10 | 10 | ||||||||||||||||||
Debt | 10 | 10 | $ 10 | ||||||||||||||||||
Micron Technology, Inc. | Loans Payable | |||||||||||||||||||||
Long-term Debt, by Maturity [Abstract] | |||||||||||||||||||||
2018 | 211 | 211 | |||||||||||||||||||
2019 | 231 | 231 | |||||||||||||||||||
2020 | 305 | 305 | |||||||||||||||||||
2021 | 195 | 195 | |||||||||||||||||||
2022 | 713 | 713 | |||||||||||||||||||
2023 and thereafter | 4,365 | 4,365 | |||||||||||||||||||
Debt Instrument, Unamortized Discount | (341) | (341) | |||||||||||||||||||
Notes Payable | $ 5,679 | $ 5,679 | |||||||||||||||||||
Weighted Average | Capital lease obligations | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Effective interest rate (in thousandths) | 3.68% | 3.68% | |||||||||||||||||||
Weighted Average | Notes Payable, Other Payables | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Stated interest rate (in thousandths) | 2.13% | 2.13% | |||||||||||||||||||
Effective interest rate (in thousandths) | 2.66% | 2.66% | |||||||||||||||||||
Weighted Average | Micron Technology, Inc. | Capital lease obligations | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Effective interest rate (in thousandths) | 3.34% | 3.34% | |||||||||||||||||||
|
Schedule I Condensed Parent Company Other Disclosures (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Notes Payable, Other Payables | Revolving Credit Facility 4 | |||
Condensed Financial Statements, Captions [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 750 | ||
Micron Technology, Inc. | Consolidated subsidiaries | |||
Condensed Financial Statements, Captions [Line Items] | |||
Revenues from transactions with related parties | 5,580 | $ 5,380 | $ 5,420 |
Micron Technology, Inc. | Guarantee of Subsidiary Obligation | |||
Condensed Financial Statements, Captions [Line Items] | |||
Maximum exposure from guarantees to subsidiaries | 4,160 | ||
Guarantee Obligation, Equipment Purchase Payable | 65 | ||
Guarantee Obligation, Overdraft Letter of Credit | 35 | ||
Micron Technology, Inc. | Guarantee of Subsidiary Obligation | Notes Payable, Other Payables | Revolving Credit Facility 4 | |||
Condensed Financial Statements, Captions [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 750 |
Schedule II Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Aug. 31, 2017 |
Sep. 01, 2016 |
Sep. 03, 2015 |
|
Accounting Standards Update 2016-09 | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Currency Translation and Charges to Other Accounts | $ 325 | ||
Deferred Tax Assets Valuation Allowance | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Year | 2,107 | $ 2,051 | $ 2,443 |
Business Acquisitions | 0 | 10 | 0 |
Charged (Credited) to Income Tax Provision | (64) | (63) | (260) |
Currency Translation and Charges to Other Accounts | 278 | 109 | |
Currency Translation and Charges to Other Accounts | (132) | ||
Balance at End of Year | $ 2,321 | $ 2,107 | $ 2,051 |
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