Equity

3 Months Ended

Dec. 02, 2021

Equity [Abstract]

Equity

Equity

Micron Shareholders’ Equity

Common Stock Repurchases: Our Board of Directors has authorized the discretionary repurchase of up to $10 billion of our outstanding common stock through open-market purchases, block trades, privately-negotiated transactions, derivative transactions, and/or pursuant to Rule 10b5-1 trading plans. The repurchase authorization has no expiration date, does not obligate us to acquire any common stock, and is subject to market conditions and our ongoing determination of the best use of available cash. In the first quarter of 2022, we repurchased 3.6 million shares of our common stock for $259 million. Through December 2, 2021, we had repurchased an aggregate of $4.30 billion under the authorization. The shares repurchased were recorded as treasury stock.

Dividends: In the first quarter of 2022, we paid dividends of $112 million ($0.10 per share) that were declared in the fourth quarter of 2021. On December 17, 2021, our Board of Directors declared a quarterly dividend of $0.10 per share, payable in cash on January 18, 2022, to shareholders of record as of the close of business on January 3, 2022.

Accumulated Other Comprehensive Income: Changes in accumulated other comprehensive income by component for the three months ended December 2, 2021 were as follows:

	Gains (Losses) on Derivative Instruments		Pension Liability Adjustments		Unrealized Gains (Losses) on Investments		Cumulative Foreign Currency Translation Adjustment		Total
As of September 2, 2021	$	(22)	$	22	$	1	$	1	$	2
Other comprehensive income before reclassifications	(100)		—		(9)		—		(109)
Amount reclassified out of accumulated other comprehensive income	(3)		—		—		—		(3)
Tax effects	17		—		2		—		19
Other comprehensive income (loss)	(86)		—		(7)		—		(93)
As of December 2, 2021	$	(108)	$	22	$	(6)	$	1	$	(91)