Equity

6 Months Ended

Mar. 03, 2022

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 second quarter and first six months of 2022, we repurchased 4.8 million shares of our common stock for $408 million, and 8.4 million shares of our common stock for $667 million, respectively. Through March 3, 2022, we had repurchased an aggregate of $4.70 billion under the authorization. The shares repurchased were recorded as treasury stock.

Dividends: In the second quarter of 2022, we declared and paid dividends of $112 million ($0.10 per share) to shareholders of record as of January 3, 2022. 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 March 29, 2022, our Board of Directors declared a quarterly dividend of $0.10 per share, payable in cash on April 26, 2022, to shareholders of record as of the close of business on April 11, 2022.

Accumulated Other Comprehensive Income (Loss): Changes in accumulated other comprehensive income (loss) by component for the six months ended March 3, 2022 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 (loss) before reclassifications	(157)		—		(27)		1		(183)
Amount reclassified out of accumulated other comprehensive income (loss)	4		(1)		1		—		4
Tax effects	33		—		6		—		39
Other comprehensive income (loss)	(120)		(1)		(20)		1		(140)
As of March 3, 2022	$	(142)	$	21	$	(19)	$	2	$	(138)