Document_and_Entity_Informatio
Document and Entity Information Document | 6 Months Ended | |
Mar. 05, 2015 | Apr. 03, 2015 | |
Entity Information [Line Items] | ||
Entity Registrant Name | MICRON TECHNOLOGY INC | |
Entity Central Index Key | 723125 | |
Current Fiscal Year End Date | 6 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | 5-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | FALSE | |
Entity Common Stock, Shares Outstanding | 1,081,540,268 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 |
Income Statement [Abstract] | ||||
Net sales | $4,166 | $4,107 | $8,739 | $8,149 |
Cost of goods sold | 2,761 | 2,704 | 5,696 | 5,465 |
Gross margin | 1,405 | 1,403 | 3,043 | 2,684 |
Selling, general and administrative | 187 | 177 | 380 | 353 |
Research and development | 379 | 344 | 755 | 664 |
Other operating (income) expense, net | -16 | 13 | -32 | 247 |
Operating income | 855 | 869 | 1,940 | 1,420 |
Interest income | 8 | 6 | 15 | 11 |
Interest expense | -83 | -83 | -173 | -184 |
Other non-operating income (expense), net | -6 | -122 | -55 | -202 |
Income before income taxes, net (income) loss attributable to noncontrolling interests and equity in net income of equity method investees: | 774 | 670 | 1,727 | 1,045 |
Income tax (provision) benefit | -47 | -63 | -122 | -143 |
Equity in net income of equity method investees | 208 | 134 | 332 | 220 |
Net income | 935 | 741 | 1,937 | 1,122 |
Net (income) loss attributable to noncontrolling interests | -1 | -10 | 0 | -33 |
Net income attributable to Micron | $934 | $731 | $1,937 | $1,089 |
Earnings per share: | ||||
Basic (in dollars per share) | $0.87 | $0.69 | $1.81 | $1.03 |
Diluted (in dollars per share) | $0.78 | $0.61 | $1.62 | $0.91 |
Number of shares used in per share calculations: | ||||
Basic (in shares) | 1,074 | 1,060 | 1,072 | 1,053 |
Diluted (in shares) | 1,190 | 1,201 | 1,193 | 1,199 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 |
Net income | $935 | $741 | $1,937 | $1,122 |
Other comprehensive income (loss), net of tax | ||||
Foreign currency translation adjustments | -50 | -10 | -74 | -4 |
Gain (loss) on derivatives, net | -2 | -2 | -18 | -4 |
Pension liability adjustments | -1 | 2 | 18 | 2 |
Gain (loss) on investments, net | -1 | 1 | -1 | 2 |
Other comprehensive income (loss) | -54 | -9 | -75 | -4 |
Total comprehensive income | 881 | 732 | 1,862 | 1,118 |
Comprehensive (income) loss attributable to noncontrolling interests | 0 | -10 | 1 | -33 |
Comprehensive income attributable to Micron | $881 | $722 | $1,863 | $1,085 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Mar. 05, 2015 | Aug. 28, 2014 | ||
In Millions, unless otherwise specified | ||||
Assets | ||||
Cash and equivalents | $3,547 | $4,150 | ||
Short-term investments | 932 | 384 | ||
Receivables | 2,761 | 2,906 | ||
Inventories | 2,377 | 2,455 | ||
Other current assets | 301 | 350 | ||
Total current assets | 9,918 | 10,245 | ||
Long-term marketable investments | 1,869 | [1] | 819 | [1] |
Property, plant and equipment, net | 9,233 | 8,682 | ||
Equity method investments | 1,239 | 971 | ||
Intangible assets, net | 440 | 468 | ||
Deferred tax assets | 651 | 816 | ||
Other noncurrent assets | 468 | 497 | ||
Total assets | 23,818 | 22,498 | ||
Liabilities and equity | ||||
Accounts payable and accrued expenses | 2,662 | 2,864 | ||
Deferred income | 259 | 309 | ||
Current debt | 1,199 | 1,638 | ||
Total current liabilities | 4,120 | 4,811 | ||
Long-term debt | 5,519 | 4,955 | ||
Other noncurrent liabilities | 887 | 1,102 | ||
Total liabilities | 10,526 | 10,868 | ||
Commitments and contingencies | ||||
Redeemable convertible notes | 51 | 57 | ||
Micron shareholders' equity: | ||||
Common stock, $0.10 par value, 3,000 shares authorized, 1,081 shares issued and outstanding (1,073 as of August 28, 2014) | 108 | 107 | ||
Additional capital | 7,901 | 7,879 | ||
Retained earnings | 4,627 | 2,729 | ||
Treasury stock | -192 | 0 | ||
Accumulated other comprehensive income (loss) | -18 | 56 | ||
Total Micron shareholders' equity | 12,426 | 10,771 | ||
Noncontrolling interests in subsidiaries | 815 | 802 | ||
Total equity | 13,241 | 11,573 | ||
Total liabilities and equity | $23,818 | $22,498 | ||
[1] | The maturities of our long-term marketable securities generally range from one to four years. |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Mar. 05, 2015 | Aug. 28, 2014 |
In Millions, except Per Share data, unless otherwise specified | ||
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) | 1,081 | 1,073 |
Common Stock, outstanding (in shares) | 1,081 | 1,073 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 |
Cash flows from operating activities | ||
Net income | $1,937 | $1,122 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation expense and amortization of intangible assets | 1,284 | 1,008 |
Amortization of debt discount and other costs | 71 | 94 |
Stock-based compensation | 84 | 49 |
Loss on restructure of debt | 30 | 166 |
Equity in net income of equity method investees | -332 | -220 |
Change in operating assets and liabilities: | ||
Receivables | 153 | -458 |
Inventories | 78 | 188 |
Accounts payable and accrued expenses | -488 | 642 |
Other noncurrent liabilities | -12 | 183 |
Deferred income taxes, net | 159 | 127 |
Other | -121 | -4 |
Net cash provided by operating activities | 2,843 | 2,897 |
Cash flows from investing activities | ||
Purchases of available-for-sale securities | -2,222 | -359 |
Expenditures for property, plant and equipment | -1,522 | -1,234 |
Payments to settle hedging activities | -88 | -24 |
Proceeds from sales and maturities of available-for-sale securities | 631 | 320 |
Decrease in restricted cash | 5 | 556 |
Other | -6 | 88 |
Net cash provided by (used for) investing activities | -3,202 | -653 |
Cash flows from financing activities | ||
Repayments of debt | -1,149 | -1,987 |
Cash paid to acquire treasury stock | -244 | -73 |
Proceeds from issuance of debt | 1,000 | 1,062 |
Proceeds from sale-leaseback transactions | 254 | 14 |
Proceeds from issuance of stock under equity plans | 50 | 224 |
Other | -55 | -44 |
Net cash provided by (used for) financing activities | -144 | -804 |
Effect of changes in currency exchange rates on cash and equivalents | -100 | -15 |
Net increase (decrease) in cash and equivalents | -603 | 1,425 |
Cash and equivalents at beginning of period | 4,150 | 2,880 |
Cash and equivalents at end of period | 3,547 | 4,305 |
Noncash investing and financing activities | ||
Exchange of convertible notes | 0 | 756 |
Acquisition of noncontrolling interest | $0 | $127 |
Business_and_Basis_of_Presenta
Business and Basis of Presentation | 6 Months Ended |
Mar. 05, 2015 | |
Accounting Policies [Abstract] | |
Business and Basis of Presentation | Business and Basis of Presentation |
Micron Technology, Inc., including its consolidated subsidiaries, is a global leader in advanced semiconductor systems. Our broad portfolio of high-performance memory technologies, including DRAM, NAND Flash, and NOR Flash, is the basis for solid state drives, modules, multichip packages, and other system solutions. Our memory solutions enable the world's most innovative computing, consumer, enterprise storage, networking, mobile, embedded, and automotive applications. The accompanying financial statements include the accounts of Micron Technology, Inc. and its consolidated subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America consistent in all material respects with those applied in our Annual Report on Form 10-K for the year ended August 28, 2014. In the opinion of our management, the accompanying unaudited consolidated financial statements contain all necessary adjustments, consisting of a normal recurring nature, to fairly state the financial information set forth herein. | |
Certain reclassifications have been made to prior period amounts to conform to current period presentation. In addition, amounts for certain equipment purchases were reclassified from financing to investing within the statement of cash flows to better reflect the current nature of these transactions and to improve comparability with our industry peers. | |
Our fiscal year is the 52 or 53-week period ending on the Thursday closest to August 31. Fiscal year 2015 contains 53 weeks and the second quarter and first six months of 2015, which ended on March 5, 2015, contained 13 weeks and 27 weeks, respectively. Fiscal year 2014 contained 52 weeks and the second quarter and first six months of 2014, which ended on February 27, 2014, contained 13 weeks and 26 weeks, respectively. All period references are to our fiscal periods unless otherwise indicated. These interim financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended August 28, 2014. |
Variable_Interest_Entities
Variable Interest Entities | 6 Months Ended |
Mar. 05, 2015 | |
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 Variable Interest Entities | |
Inotera: Inotera is a VIE because its equity is not sufficient to permit it to finance its activities without additional support from its shareholders and because of the terms of its supply agreement with us. We have determined that we do not have the power to direct the activities of Inotera that most significantly impact its economic performance, primarily due to limitations on our governance rights that require 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 do not consolidate Inotera and we account for our interest under the equity method. (See "Equity Method Investments – Inotera" note.) | |
EQUVO: EQUVO HK Limited ("EQUVO") is a special purpose entity created to facilitate an equipment sale-leaseback financing transaction between us and a consortium of financial institutions. Neither we nor the financing entities have an equity interest in EQUVO. EQUVO is a VIE because its equity is not sufficient to permit it to finance its activities without additional support from the financing entities and because the third-party equity holder lacks characteristics of a controlling financial interest. By design, the arrangement with EQUVO is merely a financing vehicle and we do not bear any significant risks from variable interests with EQUVO. Therefore, we have determined that we do not have the power to direct the activities of EQUVO that most significantly impact its economic performance and we do not consolidate EQUVO. | |
SC Hiroshima Energy Corporation: SC Hiroshima Energy Corporation ("SCHE") is an entity created to construct and operate a cogeneration, electrical power plant to support our wafer manufacturing facility in Hiroshima, Japan. SCHE is a VIE due to the nature of its tolling agreements with us and our purchase and call options for SCHE's assets. We do not have an equity ownership interest in SCHE. We do not control the operation and maintenance of the plant, which we have determined are the activities of SCHE that most significantly impact its economic performance. Therefore, we do not consolidate SCHE. | |
Consolidated Variable Interest Entities | |
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 any 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 technology. 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. | |
MP Mask: MP Mask is a VIE because substantially all of its costs are passed to us and its other member, Photronics, through product purchase agreements and MP Mask is dependent upon us or Photronics for any additional cash requirements. We have tie-breaking voting rights over key operating decisions and nearly all key MP Mask activities are driven by our supply needs. We consolidate MP Mask because we have the power to direct the activities of MP Mask that most significantly impact its economic performance and because we have the obligation to absorb losses and the right to receive benefits from MP Mask that could potentially be significant to it. | |
(See "Equity – Noncontrolling Interests in Subsidiaries" note.) |
Recently_Issued_Accounting_Sta
Recently Issued Accounting Standards | 6 Months Ended |
Mar. 05, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recently Issued Accounting Standards | Recently Issued Accounting Standards |
In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2015-03 – Simplifying the Presentation of Debt Issuance Costs, which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This ASU requires retrospective adoption and will be effective for us beginning in our first quarter of 2017. Early adoption is permitted. We do not expect this adoption to have a material impact on our financial statements. | |
In February 2015, the FASB issued ASU 2015-02 – Amendments to the Consolidation Analysis, which amends the consolidation requirements in Accounting Standards Codification 810, Consolidation. ASU 2015-02 makes targeted amendments to the current consolidation guidance for VIEs, which could change consolidation conclusions. This ASU will be effective for us beginning in our first quarter of 2017 and early adoption is permitted. We are evaluating the effects of the adoption of this ASU on our financial statements. | |
In May 2014, the FASB issued ASU 2014-09 – Revenue from Contracts with Customers, which will supersede nearly all existing revenue recognition guidance under generally accepted accounting principles in the U.S. The core principal of this ASU 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. This ASU will be effective for us in our first quarter of 2018. Early adoption is not permitted. This ASU allows for either full retrospective or modified retrospective adoption. We are evaluating the transition method we will elect and the effects of the adoption of this ASU on our financial statements. |
Cash_and_Investments
Cash and Investments | 6 Months Ended | |||||||||||||||||||||||||||||||
Mar. 05, 2015 | ||||||||||||||||||||||||||||||||
Investments [Abstract] | ||||||||||||||||||||||||||||||||
Cash and Investments [Text Block] | Cash and Investments | |||||||||||||||||||||||||||||||
Cash and the fair values of our available-for-sale investments, which approximated amortized costs, were as follows: | ||||||||||||||||||||||||||||||||
March 5, 2015 | August 28, 2014 | |||||||||||||||||||||||||||||||
Cash and Equivalents | Short-term Investments | Long-term Marketable Investments(3) | Total Fair Value | Cash and Equivalents | Short-term Investments | Long-term Marketable Investments(3) | Total Fair Value | |||||||||||||||||||||||||
Cash | $ | 2,162 | $ | — | $ | — | $ | 2,162 | $ | 2,445 | $ | — | $ | — | $ | 2,445 | ||||||||||||||||
Level 1(1) | ||||||||||||||||||||||||||||||||
Money market funds | 868 | — | — | 868 | 1,281 | — | — | 1,281 | ||||||||||||||||||||||||
Marketable equity securities | — | — | 1 | 1 | — | — | 1 | 1 | ||||||||||||||||||||||||
868 | — | 1 | 869 | 1,281 | — | 1 | 1,282 | |||||||||||||||||||||||||
Level 2(2) | ||||||||||||||||||||||||||||||||
Corporate bonds | 27 | 406 | 946 | 1,379 | — | 154 | 407 | 561 | ||||||||||||||||||||||||
Government securities | 9 | 146 | 433 | 588 | — | 136 | 284 | 420 | ||||||||||||||||||||||||
Asset-backed securities | — | 2 | 475 | 477 | — | 1 | 127 | 128 | ||||||||||||||||||||||||
Commercial paper | 141 | 321 | — | 462 | 22 | 85 | — | 107 | ||||||||||||||||||||||||
Certificates of deposit | 340 | 57 | 14 | 411 | 402 | 8 | — | 410 | ||||||||||||||||||||||||
517 | 932 | 1,868 | 3,317 | 424 | 384 | 818 | 1,626 | |||||||||||||||||||||||||
$ | 3,547 | $ | 932 | $ | 1,869 | $ | 6,348 | $ | 4,150 | $ | 384 | $ | 819 | $ | 5,353 | |||||||||||||||||
(1) | The fair value of Level 1 securities is measured based on quoted prices in active markets for identical assets. | |||||||||||||||||||||||||||||||
(2) | The fair value of Level 2 securities is valued 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. As of March 5, 2015, no adjustments were made to such pricing information. | |||||||||||||||||||||||||||||||
(3) | The maturities of our long-term marketable securities generally range from one to four years. | |||||||||||||||||||||||||||||||
Proceeds from the sales of available-for-sale securities were $143 million and $376 million for the second quarter and first six months of 2015, respectively, and $110 million and $223 million for the second quarter and first six months of 2014, respectively. Gross realized gains and losses for the second quarter and first six months of 2015 and 2014 were not significant. As of March 5, 2015, none of our available-for-sale securities had been in a loss position for longer than 12 months. |
Receivables
Receivables | 6 Months Ended | ||||||||
Mar. 05, 2015 | |||||||||
Receivables [Abstract] | |||||||||
Receivables | Receivables | ||||||||
March 5, | August 28, | ||||||||
2015 | 2014 | ||||||||
Trade receivables, net | $ | 2,439 | $ | 2,524 | |||||
Income and other taxes | 56 | 104 | |||||||
Other | 266 | 278 | |||||||
$ | 2,761 | $ | 2,906 | ||||||
As of March 5, 2015 and August 28, 2014, other receivables included $86 million and $70 million, respectively, due from Intel for amounts related to product design and process development activities under cost-sharing agreements for NAND Flash and certain emerging memory technologies. (See "Equity – Noncontrolling Interests in Subsidiaries – IMFT" note.) |
Inventories
Inventories | 6 Months Ended | ||||||||
Mar. 05, 2015 | |||||||||
Inventory Disclosure [Abstract] | |||||||||
Inventories | Inventories | ||||||||
March 5, | August 28, | ||||||||
2015 | 2014 | ||||||||
Finished goods | $ | 862 | $ | 898 | |||||
Work in process | 1,297 | 1,372 | |||||||
Raw materials and supplies | 218 | 185 | |||||||
$ | 2,377 | $ | 2,455 | ||||||
Property_Plant_and_Equipment
Property, Plant and Equipment | 6 Months Ended | ||||||||
Mar. 05, 2015 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property, Plant and Equipment | Property, Plant and Equipment | ||||||||
March 5, | August 28, | ||||||||
2015 | 2014 | ||||||||
Land | $ | 88 | $ | 86 | |||||
Buildings | 5,205 | 5,093 | |||||||
Equipment(1) | 19,097 | 17,781 | |||||||
Construction in progress(2) | 161 | 114 | |||||||
Software | 354 | 358 | |||||||
24,905 | 23,432 | ||||||||
Accumulated depreciation | (15,672 | ) | (14,750 | ) | |||||
$ | 9,233 | $ | 8,682 | ||||||
(1) | Included costs related to equipment not placed into service of $661 million and $826 million, as of March 5, 2015 and August 28, 2014, respectively. | ||||||||
(2) | Included building-related construction and tool installation costs on assets not placed into service. | ||||||||
Depreciation expense was $611 million and $1,224 million for the second quarter and first six months of 2015, respectively, and $486 million and $954 million for the second quarter and first six months of 2014, respectively. |
Equity_Method_Investments
Equity Method Investments | 6 Months Ended | ||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||
Equity Method Investments and Joint Ventures [Abstract] | |||||||||||||||||
Equity Method Investments | Equity Method Investments | ||||||||||||||||
March 5, 2015 | August 28, 2014 | ||||||||||||||||
Investment Balance | Ownership Percentage | Investment Balance | Ownership Percentage | ||||||||||||||
Inotera(1) | $ | 1,190 | 33 | % | $ | 914 | 33 | % | |||||||||
Tera Probe | 32 | 40 | % | 48 | 40 | % | |||||||||||
Other | 17 | Various | 9 | Various | |||||||||||||
$ | 1,239 | $ | 971 | ||||||||||||||
(1) Entity is a variable interest entity. | |||||||||||||||||
As of March 5, 2015, substantially all of our maximum exposure to loss from our VIEs that were not consolidated was the $1.19 billion carrying value of our investment in Inotera. We may also incur losses in connection with our rights and obligations to purchase all of Inotera's wafer production capacity under our supply agreements with Inotera. | |||||||||||||||||
We recognize our share of earnings or losses from our equity method investees generally on a two-month lag. Included in our share of earnings for the second quarter 2015 was $65 million related to Inotera's full release of its valuation allowance against net deferred tax assets related to its net operating loss carryforward. Equity in net income of equity method investees, net of tax, included the following: | |||||||||||||||||
Quarter Ended | Six Months Ended | ||||||||||||||||
March 5, | February 27, | March 5, | February 27, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
Inotera | $ | 206 | $ | 131 | $ | 335 | $ | 215 | |||||||||
Tera Probe | 1 | 4 | (6 | ) | 6 | ||||||||||||
Other | 1 | (1 | ) | 3 | (1 | ) | |||||||||||
$ | 208 | $ | 134 | $ | 332 | $ | 220 | ||||||||||
Inotera | |||||||||||||||||
We have partnered with Nanya in Inotera, a Taiwan DRAM memory company, since 2009. As of March 5, 2015, we held a 33% ownership interest in Inotera, Nanya and certain of its affiliates held a 33% ownership interest, and the remaining ownership interest in Inotera was publicly held. | |||||||||||||||||
As of March 5, 2015, the market value of our equity interest in Inotera was $3.09 billion based on the closing trading price of 45.25 New Taiwan dollars per share in an active market. As of March 5, 2015 and August 28, 2014, there were losses of $19 million and gains of $44 million, respectively, in accumulated other comprehensive income for cumulative translation adjustments from our equity investment in Inotera. | |||||||||||||||||
Since January 2013, we have purchased all of Inotera's DRAM output at a price reflecting a discount from market prices for our comparable components under a supply agreement (the "2013 Supply Agreement"). In the second quarter of 2015, we executed a supply agreement, to be effective beginning on January 1, 2016 (the "2016 Supply Agreement"), which will replace the 2013 Supply Agreement. Under the 2016 Supply Agreement, the price for DRAM products sold to us will be based on a formula that equally shares margin between Inotera and us. The 2016 Supply Agreement has an initial two-year term, followed by a three-year wind-down period, and contemplates negotiations in late 2016 with respect to a two-year extension, and annual negotiations thereafter with respect to successive one-year extensions. Upon termination of the initial two-year term of the 2016 Supply Agreement, or any extensions, we would purchase DRAM from Inotera for the wind-down period. Our share of Inotera's capacity would decline over the wind-down period. In the first six months of 2015 and in 2014, our cost of products purchased from Inotera was significantly higher than our cost of similar products manufactured in our wholly-owned facilities. We purchased $628 million and $1.36 billion of DRAM products from Inotera in the second quarter and first six months of 2015, respectively, and $714 million and $1.30 billion in the second quarter and first six months of 2014, respectively. | |||||||||||||||||
Tera Probe | |||||||||||||||||
In 2013, we acquired a 40% interest in Tera Probe, which provides semiconductor wafer testing and probe services to us and others. As of March 5, 2015, the market value of our equity interest in Tera Probe was $33 million based on the closing trading price of 1,076 yen per share in an active market. During the first quarter of 2015, we recorded an impairment charge of $10 million within equity in net income 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 fair value measurement). As of March 5, 2015, the difference between our investment balance and our proportionate share of underlying equity in Tera Probe was $31 million and is expected to be accreted as income to our earnings through equity in net income of equity method investees over a weighted-average period of 7 years. We incurred manufacturing costs for services performed by Tera Probe of $22 million and $47 million for the second quarter and first six months of 2015, respectively, and $31 million and $64 million for the second quarter and first six months of 2014, respectively. |
Intangible_Assets
Intangible Assets | 6 Months Ended | ||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||
Intangible Assets | Intangible Assets | ||||||||||||||||
March 5, 2015 | August 28, 2014 | ||||||||||||||||
Gross | Accumulated | Gross | Accumulated | ||||||||||||||
Amount | Amortization | Amount | Amortization | ||||||||||||||
Product and process technology | $ | 823 | $ | (383 | ) | $ | 809 | $ | (341 | ) | |||||||
During the first six months of 2015 and 2014, we capitalized $32 million and $19 million, respectively, for product and process technology with weighted-average useful lives of 7 years and 10 years, respectively. Amortization expense was $30 million and $60 million for the second quarter and first six months of 2015, respectively, and $31 million and $54 million for the second quarter and first six months of 2014, respectively. Annual amortization expense is estimated to be $116 million for 2015, $103 million for 2016, $92 million for 2017, $81 million for 2018 and $33 million for 2019. | |||||||||||||||||
Accounts_Payable_and_Accrued_E
Accounts Payable and Accrued Expenses | 6 Months Ended | ||||||||
Mar. 05, 2015 | |||||||||
Payables and Accruals [Abstract] | |||||||||
Accounts Payable and Accrued Liabilities Disclosure | Accounts Payable and Accrued Expenses | ||||||||
March 5, | August 28, | ||||||||
2015 | 2014 | ||||||||
Accounts payable | $ | 948 | $ | 996 | |||||
Property, plant and equipment payables | 503 | 289 | |||||||
Related party payables | 437 | 673 | |||||||
Salaries, wages and benefits | 338 | 456 | |||||||
Customer advances | 101 | 98 | |||||||
Income and other taxes | 83 | 71 | |||||||
Other | 252 | 281 | |||||||
$ | 2,662 | $ | 2,864 | ||||||
As of March 5, 2015 and August 28, 2014, related party payables included $427 million and $660 million, respectively, due to Inotera primarily for the purchase of DRAM products. As of March 5, 2015 and August 28, 2014, related party payables also included $10 million and $13 million, respectively, due to Tera Probe for testing and probe services performed. (See "Equity Method Investments" note.) | |||||||||
As of March 5, 2015 and August 28, 2014, customer advances included $90 million and $90 million, respectively, for amounts received from a customer in 2014 under a DRAM supply agreement to be applied to purchases at market pricing through September 2016. As of March 5, 2015 and August 28, 2014, other noncurrent liabilities included $45 million and $90 million, respectively, from this DRAM supply agreement. |
Debt
Debt | 6 Months Ended | ||||||||||||||||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||
Debt | Debt | ||||||||||||||||||||||||||||||
5-Mar-15 | 28-Aug-14 | ||||||||||||||||||||||||||||||
Instrument(1) | Stated Rate | Effective Rate | Current | Long-Term | Total | Current | Long-Term | Total | |||||||||||||||||||||||
Capital lease obligations(2) | N/A | N/A | $ | 369 | $ | 576 | $ | 945 | $ | 323 | $ | 588 | $ | 911 | |||||||||||||||||
MMJ creditor installment payments | N/A | 6.25 | % | 157 | 684 | 841 | 192 | 939 | 1,131 | ||||||||||||||||||||||
2019 senior notes | 1.258 | % | 1.97 | % | 92 | 278 | 370 | 92 | 324 | 416 | |||||||||||||||||||||
2022 senior notes | 5.875 | % | 6.14 | % | — | 600 | 600 | — | 600 | 600 | |||||||||||||||||||||
2023 senior notes | 5.25 | % | 5.43 | % | — | 1,000 | 1,000 | — | — | — | |||||||||||||||||||||
2025 senior notes | 5.5 | % | 5.56 | % | — | 1,150 | 1,150 | — | 1,150 | 1,150 | |||||||||||||||||||||
2031B convertible senior notes | 1.875 | % | 6.98 | % | — | — | — | 362 | — | 362 | |||||||||||||||||||||
2032C convertible senior notes(3) | 2.375 | % | 5.95 | % | — | 314 | 314 | — | 314 | 314 | |||||||||||||||||||||
2032D convertible senior notes(3) | 3.125 | % | 6.33 | % | — | 265 | 265 | — | 288 | 288 | |||||||||||||||||||||
2033E convertible senior notes(3) | 1.625 | % | 4.5 | % | 275 | — | 275 | 278 | — | 278 | |||||||||||||||||||||
2033F convertible senior notes(3) | 2.125 | % | 4.93 | % | 268 | — | 268 | 265 | — | 265 | |||||||||||||||||||||
2043G convertible senior notes | 3 | % | 6.76 | % | — | 642 | 642 | — | 636 | 636 | |||||||||||||||||||||
Other notes payable | 2.634 | % | 2.63 | % | 38 | 10 | 48 | 126 | 116 | 242 | |||||||||||||||||||||
$ | 1,199 | $ | 5,519 | $ | 6,718 | $ | 1,638 | $ | 4,955 | $ | 6,593 | ||||||||||||||||||||
(1) | We have either the obligation or the option to pay cash for the principal amount due upon conversion for all of our convertible notes. Since it is our current intent to settle in cash the principal amount of all of our convertible notes upon conversion, the dilutive effect of such notes on earnings per share is computed under the treasury stock method. | ||||||||||||||||||||||||||||||
(2) | Weighted-average imputed rate of 3.9% and 4.3% as of March 5, 2015 and August 28, 2014, respectively. | ||||||||||||||||||||||||||||||
(3) | Since the closing price of our common stock for at least 20 trading days in the 30 trading day period ending on December 31, 2014 exceeded 130% of the conversion price per share, holders had the right to convert their notes at any time during the calendar quarter ended March 31, 2015. The closing price of our common stock also exceeded the thresholds for the calendar quarter ended March 31, 2015; therefore, these notes are convertible by the holders through June 30, 2015. The 2033 Notes are classified as current because the terms of these notes would require us to pay cash for the principal amount of any converted notes. | ||||||||||||||||||||||||||||||
2015 Debt Activity | |||||||||||||||||||||||||||||||
In the first six months of 2015, we consummated a number of transactions with respect to our debt, including conversions and settlements, repurchases, the issuance of non-convertible senior notes, and the early repayment of a note. The following table presents the effect of each of the actions: | |||||||||||||||||||||||||||||||
Increase (Decrease) in Principal | Increase (Decrease) in Carrying Value | Increase (Decrease) in Cash | (Decrease) in Equity | (Loss) Gain(1) | |||||||||||||||||||||||||||
Conversions and settlements: | |||||||||||||||||||||||||||||||
2031B Notes | $ | (114 | ) | $ | (362 | ) | $ | (389 | ) | $ | — | $ | (24 | ) | |||||||||||||||||
2033E Notes | (6 | ) | (6 | ) | (18 | ) | (14 | ) | 2 | ||||||||||||||||||||||
(120 | ) | (368 | ) | (407 | ) | (14 | ) | (22 | ) | ||||||||||||||||||||||
Repurchases: | |||||||||||||||||||||||||||||||
2032C Notes | (5 | ) | (4 | ) | (18 | ) | (13 | ) | (1 | ) | |||||||||||||||||||||
2032D Notes | (31 | ) | (26 | ) | (107 | ) | (79 | ) | (2 | ) | |||||||||||||||||||||
(36 | ) | (30 | ) | (125 | ) | (92 | ) | (3 | ) | ||||||||||||||||||||||
Issuance | 1,000 | 1,000 | 988 | — | — | ||||||||||||||||||||||||||
Early repayment of note | (121 | ) | (120 | ) | (122 | ) | — | (5 | ) | ||||||||||||||||||||||
$ | 723 | $ | 482 | $ | 334 | $ | (106 | ) | $ | (30 | ) | ||||||||||||||||||||
(1) | Included in other non-operating expense. | ||||||||||||||||||||||||||||||
Conversions and Settlements: During the first six months of 2015, we had the following debt conversions and settlements: | |||||||||||||||||||||||||||||||
2031B Notes – On July 23, 2014, we called for the redemption of our remaining 2031B Notes effective on August 22, 2014. Prior to such effective date, substantially all of the holders of our 2031B Notes exercised their option to convert their notes and, in each case, we elected to settle the amount due upon conversion entirely in cash. | |||||||||||||||||||||||||||||||
2033E Notes – On September 30, 2014, a holder converted a portion of our 2033E Notes, and we elected to settle the amount due upon conversion entirely in cash. | |||||||||||||||||||||||||||||||
As a result of our elections to settle the amounts due upon conversion in cash, each of the settlement obligations became derivative debt liabilities subject to mark-to-market accounting treatment. Under the terms of the indentures for the above notes, cash settlement amounts for these derivative debt liabilities were determined based on the shares underlying the converted notes multiplied by the volume-weighted-average price of our common stock over a period of 20 consecutive trading days. Therefore, at the dates of our election to settle the conversion 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. | |||||||||||||||||||||||||||||||
Repurchases: During the first quarter of 2015, we repurchased a portion of our 2032C Notes and 2032D Notes in privately-negotiated transactions. The liability and equity components of the repurchased notes had previously been stated separately within debt and additional capital in our consolidated balance sheet. As a result, our accounting for the repurchased notes affected debt and equity. | |||||||||||||||||||||||||||||||
Issuance: On February 3, 2015, we issued $1.00 billion in principal amount of 2023 Notes due August 2023. Issuance costs for the 2023 Notes totaled $12 million. | |||||||||||||||||||||||||||||||
The 2023 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 certain 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: Prior to February 1, 2018, we may redeem the 2023 Notes, in whole or in part, at a price equal to the principal amount of the 2023 Notes to be redeemed plus a make-whole premium as described in the indenture governing the 2023 Notes, together with accrued and unpaid interest. On or after February 1, 2018, we may redeem the 2023 Notes, in whole or in part, at prices above the principal amount that decline over time, as specified in the indenture, together with accrued and unpaid interest. Additionally, prior to February 1, 2018, we may use the net cash proceeds of one or more equity offerings to redeem up to 35% of the aggregate principal amount of the 2023 Notes at a price equal to 105.25% of the principal amount together with accrued and unpaid interest. | |||||||||||||||||||||||||||||||
Early Repayment of Note: On October 17, 2014, we repaid a note prior to its scheduled maturity. | |||||||||||||||||||||||||||||||
2014 Debt Activity | |||||||||||||||||||||||||||||||
Throughout 2014, we reduced the dilutive effects of our convertible notes by exchanging portions of these notes with less-dilutive convertible notes, or by converting or repurchasing portions of these notes using cash generated from operations and proceeds from issuing non-convertible debt. In the first six months of 2014, we incurred losses related to these activities as follows: | |||||||||||||||||||||||||||||||
• | $49 million (which included $38 million in non-operating expense and $11 million of interest expense from the payment of a "make-whole") from the exchange of an aggregate principal amount of $440 million of 2027 Notes, 2031A Notes, and 2031B Notes into 2043G Notes; | ||||||||||||||||||||||||||||||
• | $112 million (which included $106 million in non-operating expense and $6 million of interest expense from the payment of a "make-whole") from the conversion of $351 million of aggregate principal amount of 2014 Notes, 2027 Notes, and 2031A Notes; and | ||||||||||||||||||||||||||||||
• | $11 million in non-operating expense from the cash repurchase of $164 million of aggregate principal amount of 2031B Notes, 2032C Notes, and 2032D Notes. | ||||||||||||||||||||||||||||||
Convertible Notes With Debt and Equity Components | |||||||||||||||||||||||||||||||
As of March 5, 2015, the trading price of our common stock was higher than the conversion prices of all of our outstanding convertible notes. As a result, the conversion values were in excess of principal amounts for such notes. The following table summarizes our convertible notes outstanding as of March 5, 2015: | |||||||||||||||||||||||||||||||
Holder Put Date(1) | Outstanding Principal | Underlying Shares | Conversion Price Per Share | Conversion Price Per Share Threshold(2) | Conversion Value in Excess of Principal(3) | ||||||||||||||||||||||||||
2032C Notes | May-19 | $ | 357 | 37 | $ | 9.63 | $ | 12.52 | $ | 730 | |||||||||||||||||||||
2032D Notes | May-21 | 313 | 31 | 9.98 | 12.97 | 604 | |||||||||||||||||||||||||
2033E Notes | Feb-18 | 294 | 27 | 10.93 | 14.21 | 492 | |||||||||||||||||||||||||
2033F Notes | Feb-20 | 300 | 27 | 10.93 | 14.21 | 504 | |||||||||||||||||||||||||
2043G Notes(4) | Nov-28 | 1,025 | 35 | 29.16 | 37.91 | 4 | |||||||||||||||||||||||||
$ | 2,289 | 157 | $ | 2,334 | |||||||||||||||||||||||||||
(1) | The terms of our convertible notes give holders the right to require us to repurchase all or a portion of their notes at a date prior to the contractual maturities of the notes. | ||||||||||||||||||||||||||||||
(2) | Holders have the right to convert all or a portion of their notes at a date prior to the contractual maturity if, during any calendar quarter, 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. The closing price of our common stock exceeded the thresholds for the calendar quarter ended March 31, 2015; therefore, our 2032 Notes and 2033 Notes notes are convertible by the holders through June 30, 2015. | ||||||||||||||||||||||||||||||
(3) | Based on our closing share price of $29.28 as of March 5, 2015. | ||||||||||||||||||||||||||||||
(4) | The original principal amount of $820 million accretes up to $917 million in November 2028 and $1.03 billion at maturity in 2043. | ||||||||||||||||||||||||||||||
We amortize any initial debt discount or imputed interest over the period from issuance of the notes through the earliest date that holders can require us to repurchase all or a portion of their notes (see "Holder Put Date" in the table above). As a result, the period of amortization can be significantly shorter than the contractual maturity. | |||||||||||||||||||||||||||||||
Capital Lease Obligations | |||||||||||||||||||||||||||||||
In the second quarter of 2015, we recorded capital lease obligations aggregating $287 million, including $254 million related to equipment sale-leaseback transactions, at a weighted-average effective interest rate of 3.2%, payable in periodic installments through February 2019. | |||||||||||||||||||||||||||||||
Revolving Credit Facilities | |||||||||||||||||||||||||||||||
On February 12, 2015, we terminated our unused $255 million senior secured three-year revolving credit facility and entered into a senior secured five-year revolving credit facility. Under this credit facility, 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 revolving 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 securing the obligations under this facility. Interest is payable on any outstanding principal balance at a variable rate equal to the London Interbank Offered Rate ("LIBOR") plus an applicable margin ranging between 1.75% to 2.25%, depending upon the utilized portion of the facility. As of March 5, 2015, the amount available to us was $704 million and we had not drawn any amounts under this facility. | |||||||||||||||||||||||||||||||
On December 2, 2014, we terminated our unused $153 million senior secured three-year revolving credit facility and entered into a senior secured five-year revolving credit facility, collateralized by a security interest in certain trade receivables and inventory. The credit facility has an aggregate revolving commitment which is subject to certain adjustments, including an availability block that effectively limits the maximum amount we could draw to $540 million. Additionally, the maximum amount we could draw may decrease further if the value, as defined, of our trade receivables and inventory collateralizing the credit facility, decreases below a specified threshold. The revolving 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 our business or financial condition. Generally, interest is payable on any outstanding principal balance at a variable rate not to exceed LIBOR plus an applicable margin ranging between 1.25% to 1.75%, depending upon the utilized portion of the facility. As of March 5, 2015, the amount available to us was $473 million and we had not drawn any amounts under this facility. | |||||||||||||||||||||||||||||||
Contractual Maturities | |||||||||||||||||||||||||||||||
As of March 5, 2015, debt maturities and future minimum lease payments under capital lease obligations were as follows: | |||||||||||||||||||||||||||||||
Notes Payable | Capital Lease Obligations | ||||||||||||||||||||||||||||||
Remainder of 2015 | $ | 65 | $ | 202 | |||||||||||||||||||||||||||
2016 | 287 | 340 | |||||||||||||||||||||||||||||
2017 | 258 | 164 | |||||||||||||||||||||||||||||
2018 | 551 | 122 | |||||||||||||||||||||||||||||
2019 | 643 | 85 | |||||||||||||||||||||||||||||
2020 and thereafter | 4,561 | 109 | |||||||||||||||||||||||||||||
Unamortized discounts and interest, respectively | (592 | ) | (77 | ) | |||||||||||||||||||||||||||
$ | 5,773 | $ | 945 | ||||||||||||||||||||||||||||
Contingencies
Contingencies | 6 Months Ended |
Mar. 05, 2015 | |
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 technology industries, from time to time others have asserted, and may in the future assert, that our products or manufacturing processes infringe their intellectual property rights. | |
On September 1, 2011, HSM Portfolio LLC and Technology Properties Limited LLC filed a patent infringement action in the U.S. District Court for the District of Delaware against us and seventeen other defendants, including MMJ and Elpida Memory (USA) Inc. On August 22, 2013, the plaintiffs filed a third amended complaint. The third amended complaint alleges that certain of our DRAM and image sensor products infringe four U.S. patents and that certain MMJ and Elpida Memory (USA) Inc. DRAM products infringe two U.S. patents and seeks damages, attorneys' fees, and costs. Trial currently is scheduled for February 22, 2016. On March 23, 2012, MMJ and Elpida Memory (USA) Inc. filed a Notice of Filing and Hearing on Petition Under Chapter 15 of the U.S. Bankruptcy Code and Issuance of Provisional Relief that included an order of the U.S. Bankruptcy Court for the District of Delaware staying judicial proceedings against MMJ and Elpida Memory (USA) Inc. Accordingly, the plaintiffs' case against MMJ and Elpida Memory (USA) was stayed. On June 25, 2013, the U.S. Bankruptcy Court for the District of Delaware entered its Order (1) Granting Recognition of the Japanese Reorganization Plan of MMJ and the Tokyo District Court's Confirmation Orders, (2) Entrusting MMJ's U.S. Assets to Foreign Representatives and Approving Certain Plan Transactions, (3) Granting Permanent Injunction, and (4) Granting Related Relief (the "Recognition Order"). Pursuant to the Recognition Order, the plaintiffs are permanently enjoined from continuing their case against MMJ and Elpida Memory (USA) Inc. in respect of any claim or claims arising prior to the commencement of the Japan Proceeding (as defined in the Recognition Order). | |
On December 5, 2011, the Board of Trustees for the University of Illinois (the "University") filed a patent infringement action against us in the U.S. District Court for the Central District of Illinois. The complaint alleges that unspecified semiconductor products of ours infringe three U.S. patents and seeks injunctive relief, damages, attorneys' fees, and costs. We have filed three petitions for inter-partes review by the Patent and Trademark Office, challenging the validity of each of the patents in suit. The Patent Trial and Appeal Board ("PTAB") held a hearing on December 9, 2013 in connection with the three petitions. On March 10, 2014, the PTAB issued written decisions finding that each and every claim in the three patents in suit is invalid, and cancelled all claims. The University appealed the PTAB rulings to the U.S. Court of Appeals for the Federal Circuit, and a hearing was held on March 4, 2015. On March 12, 2015, the appeals court issued orders that summarily affirm the PTAB ruling that all claims of each patent are invalid. | |
On April 27, 2012, Semcon Tech, LLC filed a patent infringement action against us in the U.S. District Court for the District of Delaware. The complaint alleges that our use of various chemical mechanical planarization systems purchased from Applied Materials, Inc. infringes a single U.S. patent and seeks injunctive relief, damages, attorneys' fees, and costs. Trial currently is scheduled for August 21, 2015. | |
On November 21, 2014, Elm 3DS Innovations, LLC filed a patent infringement action against Micron Technology, Inc., Micron Semiconductor Products, Inc., and Micron Consumer Products Group, Inc. in the U.S. District Court for the District of Delaware. The complaint alleges that unspecified semiconductor products of ours that incorporate multiple stacked die infringe ten U.S. patents and seeks damages, attorneys’ fees, and costs. | |
On December 15, 2014, Innovative Memory Solutions, Inc. filed a patent infringement action against us in the U.S. District Court for the District of Delaware. The complaint alleges that a variety of our NAND Flash products infringe eight U.S. patents and seeks damages, attorneys' fees, and costs. | |
Among other things, the above lawsuits pertain to certain of our DDR, DDR2, DDR3, SDR SDRAM, PSRAM, RLDRAM, LPDRAM, NAND Flash, image sensor products, 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. | |
Antitrust Matters | |
At least sixty-eight purported class action price-fixing lawsuits have been filed against us and other DRAM suppliers in various federal and state courts in the United States and in Puerto Rico on behalf of indirect purchasers alleging a conspiracy to increase DRAM prices in violation of federal and state antitrust laws and state unfair competition law, and/or unjust enrichment relating to the sale and pricing of DRAM products during the period from April 1999 through at least June 2002. The complaints seek joint and several damages, trebled, in addition to restitution, costs, and attorneys' fees. A number of these cases were removed to federal court and transferred to the U.S. District Court for the Northern District of California for consolidated pre-trial proceedings. In July 2006, the Attorneys General for approximately forty U.S. states and territories filed suit in the U.S. District Court for the Northern District of California. The complaints allege, among other things, violations of the Sherman Act, Cartwright Act, and certain other states' consumer protection and antitrust laws and seek joint and several damages, trebled, as well as injunctive and other relief. On October 3, 2008, the California Attorney General filed a similar lawsuit in California Superior Court, purportedly on behalf of local California government entities, alleging, among other things, violations of the Cartwright Act and state unfair competition law. On June 23, 2010, we executed a settlement agreement resolving these purported class-action indirect purchaser cases and the pending cases of the Attorneys General relating to alleged DRAM price-fixing in the United States. Subject to certain conditions, including final court approval of the class settlements, we agreed to pay approximately $67 million in aggregate in three equal installments over a two-year period. We paid the full amount into an escrow account by the end of the first quarter of 2013 in accordance with the settlement agreement. | |
On June 21, 2010, the Brazil Secretariat of Economic Law of the Ministry of Justice ("SDE") announced that it had initiated an investigation relating to alleged anticompetitive activities within the DRAM industry. The SDE's Notice of Investigation names various DRAM manufacturers and certain executives, including us, and focuses on the period from July 1998 to June 2002. | |
We are unable to predict the outcome of these matters and therefore cannot estimate the range of possible loss, except as noted in the above discussion of the U.S. indirect purchaser cases. The final resolution of these alleged violations of antitrust laws could result in significant liability and could have a material adverse effect on our business, results of operations, or financial condition. | |
Securities Matters | |
On July 12, 2013, seven former shareholders of Elpida (now known as MMJ) filed a complaint against Messrs. Sakamoto, Adachi, Gomi, Shirai, Tsay-Jiu, Wataki, Kinoshita, and Takahasi in their capacity as members of the board of directors of MMJ as of February 2012. The complaint alleges that the defendants engaged in various acts and misrepresentations to hide the financial condition of MMJ and deceive shareholders prior to MMJ filing a petition for corporate reorganization on February 27, 2012. The plaintiffs seek joint and several damages equal to the market value of shares owned by each of the plaintiffs on February 23, 2012, along with attorneys' fees and interest. At a hearing on September 25, 2013, the plaintiffs withdrew the complaint against Mr. Tsay-Jiu. | |
We are unable to predict the outcome of this matter and therefore cannot estimate the range of possible loss. The final resolution of this matter could result in significant liability and 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 insolvency proceedings, filed suit against MTI 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 Memories, Inc. (the "Inotera Shares"), representing approximately 55% of our total shares in Inotera as of March 5, 2015, and seeks an order requiring us to retransfer 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 such shares and all other benefits; (4) denying Qimonda’s claims against MTI 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 cancelled. 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 it 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 it 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. A hearing on the matter is scheduled for July 9, 2015. | |
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 equivalent 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. As of March 5, 2015, the Inotera Shares had a carrying value in equity method investments for purposes of our financial reporting of $657 million and a market value of $1.70 billion. | |
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
Redeemable Convertible Notes | 6 Months Ended |
Mar. 05, 2015 | |
Redeemable Convertible Notes [Abstract] | |
Redeemable Convertible Notes [Text Block] | Redeemable Convertible Notes |
Under the terms of the indentures of the 2033 Notes, upon conversion, we would be required to pay cash equal to the lesser amount of (1) the aggregate principal amount or (2) the conversion value of the notes being converted (we could pay cash, shares of common stock, or a combination thereof, at our option, for the remainder, if any, of our conversion obligation). Additionally, the 2033 Notes were convertible at the option of the holders as of March 5, 2015 and August 28, 2014. Therefore, the 2033 Notes were classified as current debt and the aggregate difference of $51 million and $57 million between the principal amount and the carrying value was classified as redeemable convertible notes in the mezzanine section of the accompanying consolidated balance sheet. (See "Debt" note.) |
Equity
Equity | 6 Months Ended | ||||||||||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||||||
Equity | Equity | ||||||||||||||||||||||||
Changes in the components of equity were as follows: | |||||||||||||||||||||||||
Six Months Ended March 5, 2015 | Six Months Ended February 27, 2014 | ||||||||||||||||||||||||
Attributable to Micron | Noncontrolling Interests | Total Equity | Attributable to Micron | Noncontrolling Interests | Total Equity | ||||||||||||||||||||
Beginning balance | $ | 10,771 | $ | 802 | $ | 11,573 | $ | 9,142 | $ | 864 | $ | 10,006 | |||||||||||||
Net income | 1,937 | — | 1,937 | 1,089 | 33 | 1,122 | |||||||||||||||||||
Other comprehensive income (loss) | (74 | ) | (1 | ) | (75 | ) | (4 | ) | — | (4 | ) | ||||||||||||||
Comprehensive income (loss) | 1,863 | (1 | ) | 1,862 | 1,085 | 33 | 1,118 | ||||||||||||||||||
Contributions from noncontrolling interests | — | 20 | 20 | — | 49 | 49 | |||||||||||||||||||
Distributions to noncontrolling interests | — | (6 | ) | (6 | ) | — | (19 | ) | (19 | ) | |||||||||||||||
Acquisition of noncontrolling interests in MMT | — | — | — | 31 | (167 | ) | (136 | ) | |||||||||||||||||
Capital and other transactions attributable to Micron | (208 | ) | — | (208 | ) | (974 | ) | — | (974 | ) | |||||||||||||||
Ending balance | $ | 12,426 | $ | 815 | $ | 13,241 | $ | 9,284 | $ | 760 | $ | 10,044 | |||||||||||||
Micron Shareholders' Equity | |||||||||||||||||||||||||
Common Stock Repurchases | |||||||||||||||||||||||||
Our Board of Directors has authorized the repurchase of up to $1.00 billion of our outstanding common stock. Any repurchases under the authorization may be made in open market purchases, block trades, privately negotiated transactions, and/or derivative transactions. Repurchases are subject to market conditions and our ongoing determination of the best use of available cash. During the second quarter of 2015, we repurchased 7 million shares for $192 million through open market transactions. As of March 5, 2015, the repurchased shares were held as treasury stock and $808 million of the authorization remained available for future stock repurchases. | |||||||||||||||||||||||||
Employees can elect to have shares withheld for taxes or exercise prices upon the release of restricted awards or exercise of stock options. We repurchased and retired 2 million and 4 million shares of our common stock in the first six months of 2015 and 2014, respectively, and paid $52 million and $73 million, respectively, for taxes and exercise prices. | |||||||||||||||||||||||||
Issued and Outstanding Capped Calls | |||||||||||||||||||||||||
We have capped calls (with strike prices that range from $9.50 to $10.93 and cap prices that range from $12.67 to $16.04), which are intended to reduce the effect of potential dilution from our convertible notes. These capped calls provide for the receipt of cash or shares, at our election, from counterparties if the trading price of our stock is above the specified initial strike prices on various dates ranging from July 2015 to February 2020, the expiration dates of the capped calls. The cash value received would be based on the trading price of our stock and would range from $0 (if the trading price of our stock is below the initial strike prices for all of the capped calls on each expiration date) to $864 million (if the trading price of our stock is at or above the cap prices for all of the capped calls on each expiration date). | |||||||||||||||||||||||||
Restrictions on Net Assets | |||||||||||||||||||||||||
As a result of the reorganization proceedings of the MMJ Companies initiated on March 23, 2012, and for so long as such proceedings are continuing, the MMJ Group is subject to certain restrictions on dividends, loans, and advances. In addition, our ability to access IMFT's cash and other assets 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 (net assets less intercompany balances and noncontrolling interests) as of March 5, 2015 were $3.11 billion for the MMJ Group, which included cash and equivalents of $1.32 billion, and $788 million for IMFT. | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||||||||||
Changes in accumulated other comprehensive income (loss) by component for the first six months of 2015 were as follows: | |||||||||||||||||||||||||
Cumulative Foreign Currency Translation Adjustments | Gains (Losses) on Derivative Instruments, Net | Gains (Losses) on Investments, Net | Pension Liability Adjustments | Total | |||||||||||||||||||||
Balance as of August 28, 2014 | $ | 42 | $ | 12 | $ | 1 | $ | 1 | $ | 56 | |||||||||||||||
Other comprehensive income before reclassifications | (74 | ) | (14 | ) | (1 | ) | 30 | (59 | ) | ||||||||||||||||
Amount reclassified out of accumulated other comprehensive income | — | (4 | ) | — | (1 | ) | (5 | ) | |||||||||||||||||
Tax effects | — | 1 | — | (11 | ) | (10 | ) | ||||||||||||||||||
Other comprehensive income (loss) | (74 | ) | (17 | ) | (1 | ) | 18 | (74 | ) | ||||||||||||||||
Balance as of March 5, 2015 | $ | (32 | ) | $ | (5 | ) | $ | — | $ | 19 | $ | (18 | ) | ||||||||||||
Noncontrolling Interests in Subsidiaries | |||||||||||||||||||||||||
March 5, 2015 | August 28, 2014 | ||||||||||||||||||||||||
Noncontrolling Interest Balance | Noncontrolling Interest Percentage | Noncontrolling Interest Balance | Noncontrolling Interest Percentage | ||||||||||||||||||||||
IMFT(1) | $ | 707 | 49 | % | $ | 693 | 49 | % | |||||||||||||||||
MP Mask(1) | 93 | 50 | % | 93 | 50 | % | |||||||||||||||||||
Other | 15 | Various | 16 | Various | |||||||||||||||||||||
$ | 815 | $ | 802 | ||||||||||||||||||||||
(1) | Entity is a variable interest entity. | ||||||||||||||||||||||||
IMFT | |||||||||||||||||||||||||
Since its inception in 2006, we have owned 51% of IMFT, a venture between us and Intel to manufacture NAND Flash memory products and certain emerging memory technologies exclusively for the members. 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. Commencing in January 2015, Intel can put to us, and commencing in January 2018, we can call from Intel, Intel's interest in IMFT for an amount equal to the noncontrolling interest balance for Intel. If Intel elects to sell to us, 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. | |||||||||||||||||||||||||
IMFT manufactures NAND Flash memory products using designs and technology we develop with Intel. We generally share with Intel the costs of product design, other NAND Flash R&D costs, and R&D costs of certain emerging memory technologies. Our R&D expenses were reduced by reimbursements from Intel of $46 million and $100 million for the second quarter and first six months of 2015, respectively, and $35 million and $64 million for the second quarter and first six months of 2014, respectively. | |||||||||||||||||||||||||
We sell a portion of our products to Intel through IMFT at long-term negotiated prices approximating cost. Sales of NAND Flash products to Intel under this arrangement were $100 million and $208 million for the second quarter and first six months of 2015, respectively, and $104 million and $205 million for the second quarter and first six months of 2014, respectively. Receivables from Intel as of March 5, 2015 and August 28, 2014, were $61 million and $66 million, respectively for these sales. | |||||||||||||||||||||||||
The following table presents the assets and liabilities of IMFT included in our consolidated balance sheets: | |||||||||||||||||||||||||
March 5, | August 28, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Cash and equivalents | $ | 115 | $ | 84 | |||||||||||||||||||||
Receivables | 72 | 73 | |||||||||||||||||||||||
Inventories | 51 | 48 | |||||||||||||||||||||||
Other current assets | 5 | 5 | |||||||||||||||||||||||
Total current assets | 243 | 210 | |||||||||||||||||||||||
Property, plant and equipment, net | 1,506 | 1,545 | |||||||||||||||||||||||
Other noncurrent assets | 42 | 47 | |||||||||||||||||||||||
Total assets | $ | 1,791 | $ | 1,802 | |||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||
Accounts payable and accrued expenses | $ | 102 | $ | 106 | |||||||||||||||||||||
Deferred income | 8 | 8 | |||||||||||||||||||||||
Current debt | 21 | 21 | |||||||||||||||||||||||
Total current liabilities | 131 | 135 | |||||||||||||||||||||||
Long-term debt | 60 | 71 | |||||||||||||||||||||||
Other noncurrent liabilities | 105 | 110 | |||||||||||||||||||||||
Total liabilities | $ | 296 | $ | 316 | |||||||||||||||||||||
Amounts exclude intercompany balances that were eliminated in our consolidated balance sheets. | |||||||||||||||||||||||||
Creditors of IMFT have recourse only to its assets and do not have recourse to any other of our assets. | |||||||||||||||||||||||||
The following table presents IMFT's distributions to and contributions from its members: | |||||||||||||||||||||||||
Quarter Ended | Six Months Ended | ||||||||||||||||||||||||
March 5, | February 27, | March 5, | February 27, | ||||||||||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||||||||||
IMFT distributions to Micron | $ | — | $ | 10 | $ | 6 | $ | 10 | |||||||||||||||||
IMFT distributions to Intel | — | 10 | 6 | 10 | |||||||||||||||||||||
Micron contributions to IMFT | — | — | 21 | 51 | |||||||||||||||||||||
Intel contributions to IMFT | — | — | 20 | 49 | |||||||||||||||||||||
MP Mask | |||||||||||||||||||||||||
In 2006, we formed a joint venture with Photronics to produce photomasks for leading-edge and advanced next-generation semiconductors. In the third quarter of 2015, we notified Photronics of our election to terminate MP Mask effective in May 2016. Upon termination, we will acquire Photronics' interest in MP Mask for an amount equal to the noncontrolling interest balance. Since its inception, we have owned approximately 50% and Photronics has owned approximately 50% of MP Mask. We purchase a substantial majority of the photomasks produced by MP Mask pursuant to a supply arrangement. | |||||||||||||||||||||||||
The assets and liabilities of MP Mask included in our consolidated balance sheets were as follows: | |||||||||||||||||||||||||
March 5, | August 28, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Current assets | $ | 21 | $ | 24 | |||||||||||||||||||||
Noncurrent assets (primarily property, plant and equipment) | 194 | 203 | |||||||||||||||||||||||
Current liabilities | 34 | 28 | |||||||||||||||||||||||
Noncurrent liabilities | — | 14 | |||||||||||||||||||||||
Amounts exclude intercompany balances that were eliminated in our consolidated balance sheets. | |||||||||||||||||||||||||
Creditors of MP Mask have recourse only to its assets and do not have recourse to any other of our assets. |
Fair_Value_Measurements
Fair Value Measurements | 6 Months Ended | ||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||
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 were classified as available-for-sale and carried at fair value. In addition to the fair value measurements disclosed in the cash and investments note, as of March 5, 2015 and August 28, 2014, we had certificates of deposit classified as restricted cash (included in other noncurrent assets) of $24 million and $27 million, respectively, valued using Level 2 fair value measurements. | |||||||||||||||||
In connection with our repurchases of debt in the first quarter of 2015, we determined the fair value of the debt components of our convertible notes 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 debt instruments (carrying value excludes the equity and mezzanine components of our convertible notes) were as follows: | |||||||||||||||||
March 5, 2015 | August 28, 2014 | ||||||||||||||||
Fair | Carrying | Fair | Carrying | ||||||||||||||
Value | Value | Value | Value | ||||||||||||||
Convertible notes | $ | 4,761 | $ | 1,764 | $ | 5,886 | $ | 2,143 | |||||||||
Notes and MMJ creditor installment payments | 4,136 | 4,009 | 3,634 | 3,539 | |||||||||||||
The fair values of our convertible notes were determined based on inputs that are 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 value of our other debt instruments was estimated based on discounted cash flows using inputs that are observable in the market or that could be derived from, or corroborated with, observable market data, including interest rates based on similar debt issued by parties with credit ratings similar to ours (Level 2). |
Derivative_Instruments
Derivative Instruments | 6 Months Ended | ||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||
Derivative Instrument Detail [Abstract] | |||||||||||||||||
Derivative Instruments | Derivative Instruments | ||||||||||||||||
We use derivative instruments to manage a portion of our exposure to changes in currency exchange rates from our monetary assets and liabilities denominated in currencies other than the U.S. dollar. We have also had convertible note settlement obligations which were accounted for as derivative instruments as a result of our elections to settle conversions in cash. We do not use derivative instruments for speculative purpose. | |||||||||||||||||
Derivative Instruments without Hedge Accounting Designation | |||||||||||||||||
Currency Derivatives: We use derivative instruments to manage a portion of our exposure to changes in currency exchange rates from our monetary assets and liabilities. Our primary objective for entering into currency derivatives is to reduce the volatility that changes in currency exchange rates have on our earnings. | |||||||||||||||||
To hedge our exposures to monetary assets and liabilities, we generally utilize a rolling hedge strategy with currency forward contracts that mature within 35 days. At the end of each reporting period, monetary assets and liabilities denominated in currencies other than the U.S. dollar are remeasured in 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 fair value measurements). To mitigate the risk of the yen strengthening against the U.S. dollar on the MMJ creditor installment payments due in December 2014 and December 2015, we entered into forward contracts to purchase 20 billion yen on November 28, 2014 and 10 billion yen on November 27, 2015. In the first quarter of 2015, we paid $33 million to settle the 20 billion yen forward contracts. | |||||||||||||||||
Realized and unrealized gains and losses on currency derivatives 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), net. | |||||||||||||||||
Convertible Notes Settlement Obligations: In connection with our debt restructure activities in the fourth quarter of 2014 and the first six months of 2015, holders elected to convert the remaining outstanding 2031B Notes and a portion of the 2033E Notes. In the first six months of 2014, holders elected to convert substantially all of the outstanding 2014 Notes, 2027 Notes, and 2031A Notes. As a result of our elections to settle the amounts due upon conversion in cash, each of the settlement obligations became derivative debt liabilities subject to mark-to-market accounting treatment for a period of approximately 30 days, beginning on the dates we notified the holder of our intention to settle the obligation in cash through the settlement dates. The fair values of the underlying derivative settlement obligations were initially determined using the Black-Scholes option valuation model (Level 2 fair value measurements). The Black-Scholes model requires the input of assumptions, including the 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 fair value measurements). Changes in fair values of the derivative settlement obligations were included in other non-operating income (expense), net. | |||||||||||||||||
Total gross notional amounts and fair values for derivative instruments without hedge accounting designation were as follows: | |||||||||||||||||
Notional Amount(1) | Fair Value of | ||||||||||||||||
Current Liabilities(2) | Noncurrent Liabilities(3) | ||||||||||||||||
As of March 5, 2015 | |||||||||||||||||
Currency forward contracts: | |||||||||||||||||
Singapore dollar | $ | 295 | $ | (2 | ) | $ | — | ||||||||||
Yen | 106 | (19 | ) | — | |||||||||||||
New Taiwan dollar | 84 | — | — | ||||||||||||||
Euro | 78 | (1 | ) | — | |||||||||||||
Shekel | 59 | (1 | ) | — | |||||||||||||
$ | 622 | $ | (23 | ) | $ | — | |||||||||||
As of August 28, 2014 | |||||||||||||||||
Currency forward contracts: | |||||||||||||||||
Singapore dollar | $ | 330 | $ | — | $ | — | |||||||||||
Yen | 554 | (12 | ) | (6 | ) | ||||||||||||
Euro | 245 | (1 | ) | — | |||||||||||||
Shekel | 62 | (1 | ) | — | |||||||||||||
$ | 1,191 | ||||||||||||||||
Convertible notes settlement obligations | 12 | (389 | ) | — | |||||||||||||
$ | (403 | ) | $ | (6 | ) | ||||||||||||
-1 | Notional amounts of forward contracts in U.S. dollars and convertible notes settlement obligations in shares. | ||||||||||||||||
(2) | Included in accounts payable and accrued expenses for forward contracts and in current debt for convertible notes settlement obligations. | ||||||||||||||||
(3) | Included in other noncurrent liabilities. | ||||||||||||||||
Net gains (losses) for derivative instruments without hedge accounting designation were included in other non-operating income (expense), net as follows: | |||||||||||||||||
Quarter Ended | Six Months Ended | ||||||||||||||||
March 5, | February 27, | March 5, | February 27, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
Foreign exchange contracts | $ | (15 | ) | $ | (7 | ) | $ | (73 | ) | $ | (21 | ) | |||||
Convertible notes settlement obligations | — | (15 | ) | 6 | (52 | ) | |||||||||||
Derivative Instruments with Cash Flow Hedge Accounting Designation | |||||||||||||||||
Currency Derivatives: We 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 rate, and credit risk spread (Level 2 fair value measurements). | |||||||||||||||||
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 of the consolidated statements of operation and in the same periods in which the underlying transactions affect earnings. The ineffective or excluded portion of the realized and unrealized gain or loss is included in other non-operating income (expense), net. Total gross notional amounts and fair values for derivative instruments with cash flow hedge accounting designation were as follows: | |||||||||||||||||
Notional Amount | Fair Value of Current Liabilities(1) | ||||||||||||||||
(in U.S. Dollars) | |||||||||||||||||
As of March 5, 2015 | |||||||||||||||||
Yen | $ | 32 | $ | — | |||||||||||||
$ | 32 | $ | — | ||||||||||||||
As of August 28, 2014 | |||||||||||||||||
Yen | $ | 94 | $ | (2 | ) | ||||||||||||
Euro | 24 | — | |||||||||||||||
$ | 118 | $ | (2 | ) | |||||||||||||
(1) | Included in accounts payable and accrued expenses. | ||||||||||||||||
For the first six months of 2015, we recognized losses of $15 million in accumulated other comprehensive income (loss) from the effective portion of cash flow hedges. For the first six months of 2014, we recognized losses of $2 million in accumulated other comprehensive income (loss) from the effective portion of cash flow hedges. The ineffective and excluded portions of cash flow hedges are recognized in other non-operating income (expense) and were not significant for the second quarter and first six months of 2015 and 2014. For the second quarter and first six months of 2015, we reclassified gains of $2 million and $4 million, respectively, from accumulated other comprehensive income (loss) to earnings. As of March 5, 2015, $5 million of gains from cash flow hedges included in accumulated other comprehensive income (loss) is expected to be reclassified into earnings in the next 12 months. | |||||||||||||||||
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. | |||||||||||||||||
We also seek to 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 under these arrangements have been presented in our consolidated balance sheet on a net basis. As of March 5, 2015 and August 28, 2014, amounts netted were not significant. |
Equity_Plans
Equity Plans | 6 Months Ended | ||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||
Equity Plans | Equity Plans | ||||||||||||||||
As of March 5, 2015, our equity plans permit us to issue an aggregate of up to 143 million shares of common stock, of which 81 million shares were available for future awards. Awards are subject to terms and conditions as determined by our Board of Directors. | |||||||||||||||||
Stock Options | |||||||||||||||||
Stock options granted and assumptions used in the Black-Scholes option valuation model were as follows: | |||||||||||||||||
Quarter Ended | Six Months Ended | ||||||||||||||||
March 5, | February 27, | March 5, | February 27, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
Stock options granted | 7 | 9 | 8 | 11 | |||||||||||||
Weighted-average grant-date fair value per share | $15.34 | $9.58 | $14.96 | $9.17 | |||||||||||||
Average expected life in years | 5.6 | 4.8 | 5.6 | 4.8 | |||||||||||||
Weighted-average expected volatility | 44 | % | 46 | % | 45 | % | 47 | % | |||||||||
Weighted-average risk-free interest rate | 1.7 | % | 1.6 | % | 1.7 | % | 1.6 | % | |||||||||
The expected volatilities utilized were based on implied volatilities from traded options on our stock and on our historical volatility. 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 March 5, 2015, there were 14 million shares of Restricted Stock Awards outstanding, of which 1 million were performance-based or market-based Restricted Stock Awards. 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 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 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 varies between 0% and 200% of target amounts, depending upon the achievement level of the specified ROA or TSR. Restricted Stock Awards activity for the second quarters and first six months of 2015 and 2014 are summarized as follows: | |||||||||||||||||
Quarter Ended | Six Months Ended | ||||||||||||||||
March 5, | February 27, | March 5, | February 27, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
Restricted stock awards granted | 4 | 4 | 6 | 6 | |||||||||||||
Weighted-average grant-date fair values per share | $ | 35.85 | $ | 23.24 | $ | 34.33 | $ | 21.22 | |||||||||
Stock-based Compensation Expense | |||||||||||||||||
Quarter Ended | Six Months Ended | ||||||||||||||||
March 5, | February 27, | March 5, | February 27, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
Stock-based compensation expense by caption: | |||||||||||||||||
Cost of goods sold | $ | 19 | $ | 8 | $ | 31 | $ | 15 | |||||||||
Selling, general and administrative | 18 | 13 | 33 | 24 | |||||||||||||
Research and development | 12 | 6 | 20 | 10 | |||||||||||||
$ | 49 | $ | 27 | $ | 84 | $ | 49 | ||||||||||
Stock-based compensation expense by type of award: | |||||||||||||||||
Stock options | $ | 23 | $ | 14 | $ | 41 | $ | 28 | |||||||||
Restricted stock awards | 26 | 13 | 43 | 21 | |||||||||||||
$ | 49 | $ | 27 | $ | 84 | $ | 49 | ||||||||||
As of March 5, 2015, $468 million of total unrecognized compensation costs, net of estimated forfeitures, related to non-vested awards was expected to be recognized through the second quarter of 2019, resulting in a weighted-average period of 1.5 years. Stock-based compensation expense in the above presentation does not reflect any significant income tax benefits, which is consistent with our treatment of income or loss from our U.S. operations. |
Other_Operating_Income_Expense
Other Operating (Income) Expense, Net | 6 Months Ended | ||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||
Other Income and Expenses [Abstract] | |||||||||||||||||
Other Operating (Income) Expense, Net | Other Operating (Income) Expense, Net | ||||||||||||||||
Quarter Ended | Six Months Ended | ||||||||||||||||
March 5, | February 27, | March 5, | February 27, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
(Gain) loss on disposition of property, plant and equipment | $ | (4 | ) | $ | 1 | $ | (10 | ) | $ | 9 | |||||||
Rambus settlement | — | — | — | 233 | |||||||||||||
Other | (12 | ) | 12 | (22 | ) | 5 | |||||||||||
$ | (16 | ) | $ | 13 | $ | (32 | ) | $ | 247 | ||||||||
In December 2013, we settled all pending litigation between us and Rambus, including all antitrust and patent matters. As a result, other operating expense for the first six months of 2014 included a $233 million charge to accrue a liability, which reflects the discounted value of amounts due under this arrangement. |
Other_NonOperating_Income_Expe
Other Non-Operating Income (Expense), Net | 6 Months Ended | ||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||
Other Nonoperating Income (Expense) [Abstract] | |||||||||||||||||
Other Non-Operating Income Expense, Net [Text Block] | Other Non-Operating Income (Expense), Net | ||||||||||||||||
Quarter Ended | Six Months Ended | ||||||||||||||||
March 5, | February 27, | March 5, | February 27, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
Loss on restructure of debt | $ | — | $ | (80 | ) | $ | (30 | ) | $ | (155 | ) | ||||||
Gain (loss) from changes in currency exchange rates | (6 | ) | (14 | ) | (27 | ) | (20 | ) | |||||||||
Adjustment to gain on MMJ Acquisition | — | (33 | ) | — | (33 | ) | |||||||||||
Other | — | 5 | 2 | 6 | |||||||||||||
$ | (6 | ) | $ | (122 | ) | $ | (55 | ) | $ | (202 | ) |
Income_Taxes
Income Taxes | 6 Months Ended |
Mar. 05, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes |
Income taxes included $33 million and $71 million for the second quarter and first six months of 2015, respectively, and $55 million and $128 million for the second quarter and first six months of 2014, respectively, related to the utilization of deferred tax assets by the MMJ Group. Remaining taxes for the second quarter and first six months of 2015 and 2014 primarily reflect taxes on our non-U.S. operations. | |
We have a full valuation allowance for our net deferred tax asset associated with our U.S. operations. The amount of the deferred tax asset considered realizable could be adjusted if significant positive evidence increases. Management continues to evaluate future projected financial performance to determine whether such performance is sufficient evidence to support a reduction in or reversal of the valuation allowances. Income taxes on U.S. operations for the second quarter and first six months of 2015 and 2014 were substantially offset by changes in the valuation allowance. | |
As of March 5, 2015, we estimate our unrecognized tax benefits may increase for 2015 by approximately $150 million, primarily due to transfer pricing matters, which we would expect to be substantially offset by a change in our valuation allowance. The resolution of tax audits or lapses 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 ranges from $0 to $65 million, including interest and penalties. | |
We operate in a number of locations outside the U.S., including Singapore, where we have tax incentive agreements that are conditional 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 2026, reduced our tax provision for the second quarter and first six months of 2015 by $97 million (benefitting our diluted earnings per share by $0.08) and $237 million ($0.20 per diluted share), respectively. These arrangements reduced our tax provision for the second quarter and first six months of 2014 by $68 million ($0.06 per diluted share) and $144 million ($0.12 per diluted share), respectively. |
Earnings_Per_Share
Earnings Per Share | 6 Months Ended | ||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||
Earnings Per Share | Earnings Per Share | ||||||||||||||||
Quarter Ended | Six Months Ended | ||||||||||||||||
March 5, | February 27, | March 5, | February 27, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
Net income available to Micron shareholders – Basic | $ | 934 | $ | 731 | $ | 1,937 | $ | 1,089 | |||||||||
Dilutive effect related to equity method investment | (2 | ) | — | (3 | ) | — | |||||||||||
Net income available to Micron shareholders – Diluted | $ | 932 | $ | 731 | $ | 1,934 | $ | 1,089 | |||||||||
Weighted-average common shares outstanding – Basic | 1,074 | 1,060 | 1,072 | 1,053 | |||||||||||||
Dilutive effect of equity plans and convertible notes | 116 | 141 | 121 | 146 | |||||||||||||
Weighted-average common shares outstanding – Diluted | 1,190 | 1,201 | 1,193 | 1,199 | |||||||||||||
Earnings per share: | |||||||||||||||||
Basic | $ | 0.87 | $ | 0.69 | $ | 1.81 | $ | 1.03 | |||||||||
Diluted | 0.78 | 0.61 | 1.62 | 0.91 | |||||||||||||
Antidilutive potential common shares that could dilute basic earnings per share in the future were 18 million and 14 million for the second quarter and first six months of 2015, respectively, and 45 million and 41 million for the second quarter and first six months of 2014, respectively. |
Segment_Information
Segment Information | 6 Months Ended | ||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||
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 makers. We have the following four business units, which are our reportable segments: | |||||||||||||||||
Compute and Networking Business Unit ("CNBU"): Includes DRAM and NOR Flash products sold to the compute, networking, graphics, and cloud server markets. | |||||||||||||||||
Storage Business Unit ("SBU"): Includes NAND Flash components and SSDs sold into enterprise and client storage, cloud, and removable storage markets. SBU also includes NAND Flash products sold to Intel through our IMFT joint venture. | |||||||||||||||||
Mobile Business Unit ("MBU"): Includes DRAM, NAND Flash, and NOR Flash products sold to the smartphone, feature phone, and tablet mobile-device markets. | |||||||||||||||||
Embedded Business Unit ("EBU"): Includes DRAM, NAND Flash, and NOR Flash products sold into automotive and industrial applications, as well as the 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. The unallocated amount of operating expense for the first six months of 2014 related to the Rambus settlement. | |||||||||||||||||
We do not identify or report internally our assets 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. There are no differences in the accounting policies for segment reporting and our consolidated results of operations. | |||||||||||||||||
Quarter Ended | Six Months Ended | ||||||||||||||||
March 5, | February 27, | March 5, | February 27, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
Net sales: | |||||||||||||||||
CNBU | $ | 1,822 | $ | 1,835 | $ | 3,910 | $ | 3,579 | |||||||||
SBU | 954 | 901 | 1,938 | 1,706 | |||||||||||||
MBU | 856 | 908 | 1,796 | 1,960 | |||||||||||||
EBU | 502 | 422 | 1,041 | 831 | |||||||||||||
All Other | 32 | 41 | 54 | 73 | |||||||||||||
$ | 4,166 | $ | 4,107 | $ | 8,739 | $ | 8,149 | ||||||||||
Operating income (loss): | |||||||||||||||||
CNBU | $ | 493 | $ | 504 | $ | 1,116 | $ | 931 | |||||||||
SBU | (36 | ) | 79 | (10 | ) | 173 | |||||||||||
MBU | 262 | 178 | 568 | 344 | |||||||||||||
EBU | 115 | 80 | 233 | 158 | |||||||||||||
All Other | 21 | 28 | 33 | 47 | |||||||||||||
Unallocated | — | — | — | (233 | ) | ||||||||||||
$ | 855 | $ | 869 | $ | 1,940 | $ | 1,420 | ||||||||||
Business_and_Basis_of_Presenta1
Business and Basis of Presentation (Policies) | 6 Months Ended |
Mar. 05, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation | The accompanying financial statements include the accounts of Micron Technology, Inc. and its consolidated subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America consistent in all material respects with those applied in our Annual Report on Form 10-K for the year ended August 28, 2014. In the opinion of our management, the accompanying unaudited consolidated financial statements contain all necessary adjustments, consisting of a normal recurring nature, to fairly state the financial information set forth herein. |
Reclassifications | Certain reclassifications have been made to prior period amounts to conform to current period presentation. In addition, amounts for certain equipment purchases were reclassified from financing to investing within the statement of cash flows to better reflect the current nature of these transactions and to improve comparability with our industry peers. |
Fiscal Period | Our fiscal year is the 52 or 53-week period ending on the Thursday closest to August 31. Fiscal year 2015 contains 53 weeks and the second quarter and first six months of 2015, which ended on March 5, 2015, contained 13 weeks and 27 weeks, respectively. Fiscal year 2014 contained 52 weeks and the second quarter and first six months of 2014, which ended on February 27, 2014, contained 13 weeks and 26 weeks, respectively. All period references are to our fiscal periods unless otherwise indicated. These interim financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended August 28, 2014. |
Variable_Interest_Entities_Pol
Variable Interest Entities (Policies) | 6 Months Ended |
Mar. 05, 2015 | |
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. |
Cash_and_Investments_Tables
Cash and Investments (Tables) | 6 Months Ended | |||||||||||||||||||||||||||||||
Mar. 05, 2015 | ||||||||||||||||||||||||||||||||
Investments [Abstract] | ||||||||||||||||||||||||||||||||
Cash and the fair values of our available-for-sale investments [Table Text Block] | Cash and the fair values of our available-for-sale investments, which approximated amortized costs, were as follows: | |||||||||||||||||||||||||||||||
March 5, 2015 | August 28, 2014 | |||||||||||||||||||||||||||||||
Cash and Equivalents | Short-term Investments | Long-term Marketable Investments(3) | Total Fair Value | Cash and Equivalents | Short-term Investments | Long-term Marketable Investments(3) | Total Fair Value | |||||||||||||||||||||||||
Cash | $ | 2,162 | $ | — | $ | — | $ | 2,162 | $ | 2,445 | $ | — | $ | — | $ | 2,445 | ||||||||||||||||
Level 1(1) | ||||||||||||||||||||||||||||||||
Money market funds | 868 | — | — | 868 | 1,281 | — | — | 1,281 | ||||||||||||||||||||||||
Marketable equity securities | — | — | 1 | 1 | — | — | 1 | 1 | ||||||||||||||||||||||||
868 | — | 1 | 869 | 1,281 | — | 1 | 1,282 | |||||||||||||||||||||||||
Level 2(2) | ||||||||||||||||||||||||||||||||
Corporate bonds | 27 | 406 | 946 | 1,379 | — | 154 | 407 | 561 | ||||||||||||||||||||||||
Government securities | 9 | 146 | 433 | 588 | — | 136 | 284 | 420 | ||||||||||||||||||||||||
Asset-backed securities | — | 2 | 475 | 477 | — | 1 | 127 | 128 | ||||||||||||||||||||||||
Commercial paper | 141 | 321 | — | 462 | 22 | 85 | — | 107 | ||||||||||||||||||||||||
Certificates of deposit | 340 | 57 | 14 | 411 | 402 | 8 | — | 410 | ||||||||||||||||||||||||
517 | 932 | 1,868 | 3,317 | 424 | 384 | 818 | 1,626 | |||||||||||||||||||||||||
$ | 3,547 | $ | 932 | $ | 1,869 | $ | 6,348 | $ | 4,150 | $ | 384 | $ | 819 | $ | 5,353 | |||||||||||||||||
(1) | The fair value of Level 1 securities is measured based on quoted prices in active markets for identical assets. | |||||||||||||||||||||||||||||||
(2) | The fair value of Level 2 securities is valued 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. As of March 5, 2015, no adjustments were made to such pricing information. | |||||||||||||||||||||||||||||||
(3) | The maturities of our long-term marketable securities generally range from one to four years. |
Receivables_Tables
Receivables (Tables) | 6 Months Ended | ||||||||
Mar. 05, 2015 | |||||||||
Receivables [Abstract] | |||||||||
Schedule of Receivables | |||||||||
March 5, | August 28, | ||||||||
2015 | 2014 | ||||||||
Trade receivables, net | $ | 2,439 | $ | 2,524 | |||||
Income and other taxes | 56 | 104 | |||||||
Other | 266 | 278 | |||||||
$ | 2,761 | $ | 2,906 | ||||||
Inventories_Tables
Inventories (Tables) | 6 Months Ended | ||||||||
Mar. 05, 2015 | |||||||||
Inventory Disclosure [Abstract] | |||||||||
Schedule Of Inventory | |||||||||
March 5, | August 28, | ||||||||
2015 | 2014 | ||||||||
Finished goods | $ | 862 | $ | 898 | |||||
Work in process | 1,297 | 1,372 | |||||||
Raw materials and supplies | 218 | 185 | |||||||
$ | 2,377 | $ | 2,455 | ||||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 6 Months Ended | ||||||||
Mar. 05, 2015 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Schedule of Property, Plant and Equipment | |||||||||
March 5, | August 28, | ||||||||
2015 | 2014 | ||||||||
Land | $ | 88 | $ | 86 | |||||
Buildings | 5,205 | 5,093 | |||||||
Equipment(1) | 19,097 | 17,781 | |||||||
Construction in progress(2) | 161 | 114 | |||||||
Software | 354 | 358 | |||||||
24,905 | 23,432 | ||||||||
Accumulated depreciation | (15,672 | ) | (14,750 | ) | |||||
$ | 9,233 | $ | 8,682 | ||||||
(1) | Included costs related to equipment not placed into service of $661 million and $826 million, as of March 5, 2015 and August 28, 2014, respectively. | ||||||||
(2) | Included building-related construction and tool installation costs on assets not placed into service. |
Equity_Method_Investments_Tabl
Equity Method Investments (Tables) | 6 Months Ended | ||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||
Equity Method Investments and Joint Ventures [Abstract] | |||||||||||||||||
Equity Method Investments | |||||||||||||||||
March 5, 2015 | August 28, 2014 | ||||||||||||||||
Investment Balance | Ownership Percentage | Investment Balance | Ownership Percentage | ||||||||||||||
Inotera(1) | $ | 1,190 | 33 | % | $ | 914 | 33 | % | |||||||||
Tera Probe | 32 | 40 | % | 48 | 40 | % | |||||||||||
Other | 17 | Various | 9 | Various | |||||||||||||
$ | 1,239 | $ | 971 | ||||||||||||||
(1) Entity is a variable interest entity. | |||||||||||||||||
As of March 5, 2015, substantially all of our maximum exposure to loss from our VIEs that were not consolidated was the $1.19 billion carrying value of our investment in Inotera. We may also incur losses in connection with our rights and obligations to purchase all of Inotera's wafer production capacity under our supply agreements with Inotera. | |||||||||||||||||
We recognize our share of earnings or losses from our equity method investees generally on a two-month lag. Included in our share of earnings for the second quarter 2015 was $65 million related to Inotera's full release of its valuation allowance against net deferred tax assets related to its net operating loss carryforward. Equity in net income of equity method investees, net of tax, included the following: | |||||||||||||||||
Quarter Ended | Six Months Ended | ||||||||||||||||
March 5, | February 27, | March 5, | February 27, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
Inotera | $ | 206 | $ | 131 | $ | 335 | $ | 215 | |||||||||
Tera Probe | 1 | 4 | (6 | ) | 6 | ||||||||||||
Other | 1 | (1 | ) | 3 | (1 | ) | |||||||||||
$ | 208 | $ | 134 | $ | 332 | $ | 220 | ||||||||||
Intangible_Assets_Tables
Intangible Assets (Tables) | 6 Months Ended | ||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||
Schedule Of Finite Lived Intangible Assets By Major Class | |||||||||||||||||
March 5, 2015 | August 28, 2014 | ||||||||||||||||
Gross | Accumulated | Gross | Accumulated | ||||||||||||||
Amount | Amortization | Amount | Amortization | ||||||||||||||
Product and process technology | $ | 823 | $ | (383 | ) | $ | 809 | $ | (341 | ) | |||||||
Accounts_Payable_and_Accrued_E1
Accounts Payable and Accrued Expenses (Tables) | 6 Months Ended | ||||||||
Mar. 05, 2015 | |||||||||
Payables and Accruals [Abstract] | |||||||||
Accounts Payable And Accrued Liabilities Schedule | |||||||||
March 5, | August 28, | ||||||||
2015 | 2014 | ||||||||
Accounts payable | $ | 948 | $ | 996 | |||||
Property, plant and equipment payables | 503 | 289 | |||||||
Related party payables | 437 | 673 | |||||||
Salaries, wages and benefits | 338 | 456 | |||||||
Customer advances | 101 | 98 | |||||||
Income and other taxes | 83 | 71 | |||||||
Other | 252 | 281 | |||||||
$ | 2,662 | $ | 2,864 | ||||||
Debt_Tables
Debt (Tables) | 6 Months Ended | ||||||||||||||||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||
Schedule of Debt | |||||||||||||||||||||||||||||||
5-Mar-15 | 28-Aug-14 | ||||||||||||||||||||||||||||||
Instrument(1) | Stated Rate | Effective Rate | Current | Long-Term | Total | Current | Long-Term | Total | |||||||||||||||||||||||
Capital lease obligations(2) | N/A | N/A | $ | 369 | $ | 576 | $ | 945 | $ | 323 | $ | 588 | $ | 911 | |||||||||||||||||
MMJ creditor installment payments | N/A | 6.25 | % | 157 | 684 | 841 | 192 | 939 | 1,131 | ||||||||||||||||||||||
2019 senior notes | 1.258 | % | 1.97 | % | 92 | 278 | 370 | 92 | 324 | 416 | |||||||||||||||||||||
2022 senior notes | 5.875 | % | 6.14 | % | — | 600 | 600 | — | 600 | 600 | |||||||||||||||||||||
2023 senior notes | 5.25 | % | 5.43 | % | — | 1,000 | 1,000 | — | — | — | |||||||||||||||||||||
2025 senior notes | 5.5 | % | 5.56 | % | — | 1,150 | 1,150 | — | 1,150 | 1,150 | |||||||||||||||||||||
2031B convertible senior notes | 1.875 | % | 6.98 | % | — | — | — | 362 | — | 362 | |||||||||||||||||||||
2032C convertible senior notes(3) | 2.375 | % | 5.95 | % | — | 314 | 314 | — | 314 | 314 | |||||||||||||||||||||
2032D convertible senior notes(3) | 3.125 | % | 6.33 | % | — | 265 | 265 | — | 288 | 288 | |||||||||||||||||||||
2033E convertible senior notes(3) | 1.625 | % | 4.5 | % | 275 | — | 275 | 278 | — | 278 | |||||||||||||||||||||
2033F convertible senior notes(3) | 2.125 | % | 4.93 | % | 268 | — | 268 | 265 | — | 265 | |||||||||||||||||||||
2043G convertible senior notes | 3 | % | 6.76 | % | — | 642 | 642 | — | 636 | 636 | |||||||||||||||||||||
Other notes payable | 2.634 | % | 2.63 | % | 38 | 10 | 48 | 126 | 116 | 242 | |||||||||||||||||||||
$ | 1,199 | $ | 5,519 | $ | 6,718 | $ | 1,638 | $ | 4,955 | $ | 6,593 | ||||||||||||||||||||
(1) | We have either the obligation or the option to pay cash for the principal amount due upon conversion for all of our convertible notes. Since it is our current intent to settle in cash the principal amount of all of our convertible notes upon conversion, the dilutive effect of such notes on earnings per share is computed under the treasury stock method. | ||||||||||||||||||||||||||||||
(2) | Weighted-average imputed rate of 3.9% and 4.3% as of March 5, 2015 and August 28, 2014, respectively. | ||||||||||||||||||||||||||||||
(3) | Since the closing price of our common stock for at least 20 trading days in the 30 trading day period ending on December 31, 2014 exceeded 130% of the conversion price per share, holders had the right to convert their notes at any time during the calendar quarter ended March 31, 2015. The closing price of our common stock also exceeded the thresholds for the calendar quarter ended March 31, 2015; therefore, these notes are convertible by the holders through June 30, 2015. The 2033 Notes are classified as current because the terms of these notes would require us to pay cash for the principal amount of any converted notes. | ||||||||||||||||||||||||||||||
Schedule of Extinguishment of Debt [Table Text Block] | In the first six months of 2015, we consummated a number of transactions with respect to our debt, including conversions and settlements, repurchases, the issuance of non-convertible senior notes, and the early repayment of a note. The following table presents the effect of each of the actions: | ||||||||||||||||||||||||||||||
Increase (Decrease) in Principal | Increase (Decrease) in Carrying Value | Increase (Decrease) in Cash | (Decrease) in Equity | (Loss) Gain(1) | |||||||||||||||||||||||||||
Conversions and settlements: | |||||||||||||||||||||||||||||||
2031B Notes | $ | (114 | ) | $ | (362 | ) | $ | (389 | ) | $ | — | $ | (24 | ) | |||||||||||||||||
2033E Notes | (6 | ) | (6 | ) | (18 | ) | (14 | ) | 2 | ||||||||||||||||||||||
(120 | ) | (368 | ) | (407 | ) | (14 | ) | (22 | ) | ||||||||||||||||||||||
Repurchases: | |||||||||||||||||||||||||||||||
2032C Notes | (5 | ) | (4 | ) | (18 | ) | (13 | ) | (1 | ) | |||||||||||||||||||||
2032D Notes | (31 | ) | (26 | ) | (107 | ) | (79 | ) | (2 | ) | |||||||||||||||||||||
(36 | ) | (30 | ) | (125 | ) | (92 | ) | (3 | ) | ||||||||||||||||||||||
Issuance | 1,000 | 1,000 | 988 | — | — | ||||||||||||||||||||||||||
Early repayment of note | (121 | ) | (120 | ) | (122 | ) | — | (5 | ) | ||||||||||||||||||||||
$ | 723 | $ | 482 | $ | 334 | $ | (106 | ) | $ | (30 | ) | ||||||||||||||||||||
(1) | Included in other non-operating expense. | ||||||||||||||||||||||||||||||
Schedule Of Convertible Debt Instruments With Debt And Equity Components [Text Block] | The following table summarizes our convertible notes outstanding as of March 5, 2015: | ||||||||||||||||||||||||||||||
Holder Put Date(1) | Outstanding Principal | Underlying Shares | Conversion Price Per Share | Conversion Price Per Share Threshold(2) | Conversion Value in Excess of Principal(3) | ||||||||||||||||||||||||||
2032C Notes | May-19 | $ | 357 | 37 | $ | 9.63 | $ | 12.52 | $ | 730 | |||||||||||||||||||||
2032D Notes | May-21 | 313 | 31 | 9.98 | 12.97 | 604 | |||||||||||||||||||||||||
2033E Notes | Feb-18 | 294 | 27 | 10.93 | 14.21 | 492 | |||||||||||||||||||||||||
2033F Notes | Feb-20 | 300 | 27 | 10.93 | 14.21 | 504 | |||||||||||||||||||||||||
2043G Notes(4) | Nov-28 | 1,025 | 35 | 29.16 | 37.91 | 4 | |||||||||||||||||||||||||
$ | 2,289 | 157 | $ | 2,334 | |||||||||||||||||||||||||||
(1) | The terms of our convertible notes give holders the right to require us to repurchase all or a portion of their notes at a date prior to the contractual maturities of the notes. | ||||||||||||||||||||||||||||||
(2) | Holders have the right to convert all or a portion of their notes at a date prior to the contractual maturity if, during any calendar quarter, 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. The closing price of our common stock exceeded the thresholds for the calendar quarter ended March 31, 2015; therefore, our 2032 Notes and 2033 Notes notes are convertible by the holders through June 30, 2015. | ||||||||||||||||||||||||||||||
(3) | Based on our closing share price of $29.28 as of March 5, 2015. | ||||||||||||||||||||||||||||||
(4) | The original principal amount of $820 million accretes up to $917 million in November 2028 and $1.03 billion at maturity in 2043. | ||||||||||||||||||||||||||||||
Maturities of Notes Payable and Future Minimum Lease Payments [Table Text Block] | As of March 5, 2015, debt maturities and future minimum lease payments under capital lease obligations were as follows: | ||||||||||||||||||||||||||||||
Notes Payable | Capital Lease Obligations | ||||||||||||||||||||||||||||||
Remainder of 2015 | $ | 65 | $ | 202 | |||||||||||||||||||||||||||
2016 | 287 | 340 | |||||||||||||||||||||||||||||
2017 | 258 | 164 | |||||||||||||||||||||||||||||
2018 | 551 | 122 | |||||||||||||||||||||||||||||
2019 | 643 | 85 | |||||||||||||||||||||||||||||
2020 and thereafter | 4,561 | 109 | |||||||||||||||||||||||||||||
Unamortized discounts and interest, respectively | (592 | ) | (77 | ) | |||||||||||||||||||||||||||
$ | 5,773 | $ | 945 | ||||||||||||||||||||||||||||
Equity_Tables
Equity (Tables) | 6 Months Ended | ||||||||||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||||||||||
Variable Interest Entity [Line Items] | |||||||||||||||||||||||||
Schedule of Stockholders Equity [Table Text Block] | Changes in the components of equity were as follows: | ||||||||||||||||||||||||
Six Months Ended March 5, 2015 | Six Months Ended February 27, 2014 | ||||||||||||||||||||||||
Attributable to Micron | Noncontrolling Interests | Total Equity | Attributable to Micron | Noncontrolling Interests | Total Equity | ||||||||||||||||||||
Beginning balance | $ | 10,771 | $ | 802 | $ | 11,573 | $ | 9,142 | $ | 864 | $ | 10,006 | |||||||||||||
Net income | 1,937 | — | 1,937 | 1,089 | 33 | 1,122 | |||||||||||||||||||
Other comprehensive income (loss) | (74 | ) | (1 | ) | (75 | ) | (4 | ) | — | (4 | ) | ||||||||||||||
Comprehensive income (loss) | 1,863 | (1 | ) | 1,862 | 1,085 | 33 | 1,118 | ||||||||||||||||||
Contributions from noncontrolling interests | — | 20 | 20 | — | 49 | 49 | |||||||||||||||||||
Distributions to noncontrolling interests | — | (6 | ) | (6 | ) | — | (19 | ) | (19 | ) | |||||||||||||||
Acquisition of noncontrolling interests in MMT | — | — | — | 31 | (167 | ) | (136 | ) | |||||||||||||||||
Capital and other transactions attributable to Micron | (208 | ) | — | (208 | ) | (974 | ) | — | (974 | ) | |||||||||||||||
Ending balance | $ | 12,426 | $ | 815 | $ | 13,241 | $ | 9,284 | $ | 760 | $ | 10,044 | |||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | |||||||||||||||||||||||||
Cumulative Foreign Currency Translation Adjustments | Gains (Losses) on Derivative Instruments, Net | Gains (Losses) on Investments, Net | Pension Liability Adjustments | Total | |||||||||||||||||||||
Balance as of August 28, 2014 | $ | 42 | $ | 12 | $ | 1 | $ | 1 | $ | 56 | |||||||||||||||
Other comprehensive income before reclassifications | (74 | ) | (14 | ) | (1 | ) | 30 | (59 | ) | ||||||||||||||||
Amount reclassified out of accumulated other comprehensive income | — | (4 | ) | — | (1 | ) | (5 | ) | |||||||||||||||||
Tax effects | — | 1 | — | (11 | ) | (10 | ) | ||||||||||||||||||
Other comprehensive income (loss) | (74 | ) | (17 | ) | (1 | ) | 18 | (74 | ) | ||||||||||||||||
Balance as of March 5, 2015 | $ | (32 | ) | $ | (5 | ) | $ | — | $ | 19 | $ | (18 | ) | ||||||||||||
Schedule Of Noncontrolling Interests In Subsidiaries [Table Text Block] | |||||||||||||||||||||||||
March 5, 2015 | August 28, 2014 | ||||||||||||||||||||||||
Noncontrolling Interest Balance | Noncontrolling Interest Percentage | Noncontrolling Interest Balance | Noncontrolling Interest Percentage | ||||||||||||||||||||||
IMFT(1) | $ | 707 | 49 | % | $ | 693 | 49 | % | |||||||||||||||||
MP Mask(1) | 93 | 50 | % | 93 | 50 | % | |||||||||||||||||||
Other | 15 | Various | 16 | Various | |||||||||||||||||||||
$ | 815 | $ | 802 | ||||||||||||||||||||||
(1) | Entity is a variable interest entity. | ||||||||||||||||||||||||
IM Flash Technologies, LLC [Member] | |||||||||||||||||||||||||
Variable Interest Entity [Line Items] | |||||||||||||||||||||||||
IM Flash's distributions to, and contributions from, shareholders | The following table presents IMFT's distributions to and contributions from its members: | ||||||||||||||||||||||||
Quarter Ended | Six Months Ended | ||||||||||||||||||||||||
March 5, | February 27, | March 5, | February 27, | ||||||||||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||||||||||
IMFT distributions to Micron | $ | — | $ | 10 | $ | 6 | $ | 10 | |||||||||||||||||
IMFT distributions to Intel | — | 10 | 6 | 10 | |||||||||||||||||||||
Micron contributions to IMFT | — | — | 21 | 51 | |||||||||||||||||||||
Intel contributions to IMFT | — | — | 20 | 49 | |||||||||||||||||||||
Total IM Flash and MP Mask assets and liabilities | The following table presents the assets and liabilities of IMFT included in our consolidated balance sheets: | ||||||||||||||||||||||||
March 5, | August 28, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Cash and equivalents | $ | 115 | $ | 84 | |||||||||||||||||||||
Receivables | 72 | 73 | |||||||||||||||||||||||
Inventories | 51 | 48 | |||||||||||||||||||||||
Other current assets | 5 | 5 | |||||||||||||||||||||||
Total current assets | 243 | 210 | |||||||||||||||||||||||
Property, plant and equipment, net | 1,506 | 1,545 | |||||||||||||||||||||||
Other noncurrent assets | 42 | 47 | |||||||||||||||||||||||
Total assets | $ | 1,791 | $ | 1,802 | |||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||
Accounts payable and accrued expenses | $ | 102 | $ | 106 | |||||||||||||||||||||
Deferred income | 8 | 8 | |||||||||||||||||||||||
Current debt | 21 | 21 | |||||||||||||||||||||||
Total current liabilities | 131 | 135 | |||||||||||||||||||||||
Long-term debt | 60 | 71 | |||||||||||||||||||||||
Other noncurrent liabilities | 105 | 110 | |||||||||||||||||||||||
Total liabilities | $ | 296 | $ | 316 | |||||||||||||||||||||
Amounts exclude intercompany balances that were eliminated in our consolidated balance sheets. | |||||||||||||||||||||||||
MP Mask Technology Center LLC [Member] | |||||||||||||||||||||||||
Variable Interest Entity [Line Items] | |||||||||||||||||||||||||
Total IM Flash and MP Mask assets and liabilities | The assets and liabilities of MP Mask included in our consolidated balance sheets were as follows: | ||||||||||||||||||||||||
March 5, | August 28, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Current assets | $ | 21 | $ | 24 | |||||||||||||||||||||
Noncurrent assets (primarily property, plant and equipment) | 194 | 203 | |||||||||||||||||||||||
Current liabilities | 34 | 28 | |||||||||||||||||||||||
Noncurrent liabilities | — | 14 | |||||||||||||||||||||||
Amounts exclude intercompany balances that were eliminated in our consolidated balance sheets. |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 6 Months Ended | ||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Estimated fair value and carrying value of debt instruments | The estimated fair value and carrying value of debt instruments (carrying value excludes the equity and mezzanine components of our convertible notes) were as follows: | ||||||||||||||||
March 5, 2015 | August 28, 2014 | ||||||||||||||||
Fair | Carrying | Fair | Carrying | ||||||||||||||
Value | Value | Value | Value | ||||||||||||||
Convertible notes | $ | 4,761 | $ | 1,764 | $ | 5,886 | $ | 2,143 | |||||||||
Notes and MMJ creditor installment payments | 4,136 | 4,009 | 3,634 | 3,539 | |||||||||||||
Derivative_Instruments_Tables
Derivative Instruments (Tables) | 6 Months Ended | ||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||
Derivative Instrument Detail [Abstract] | |||||||||||||||||
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | Total gross notional amounts and fair values for derivative instruments without hedge accounting designation were as follows: | ||||||||||||||||
Notional Amount(1) | Fair Value of | ||||||||||||||||
Current Liabilities(2) | Noncurrent Liabilities(3) | ||||||||||||||||
As of March 5, 2015 | |||||||||||||||||
Currency forward contracts: | |||||||||||||||||
Singapore dollar | $ | 295 | $ | (2 | ) | $ | — | ||||||||||
Yen | 106 | (19 | ) | — | |||||||||||||
New Taiwan dollar | 84 | — | — | ||||||||||||||
Euro | 78 | (1 | ) | — | |||||||||||||
Shekel | 59 | (1 | ) | — | |||||||||||||
$ | 622 | $ | (23 | ) | $ | — | |||||||||||
As of August 28, 2014 | |||||||||||||||||
Currency forward contracts: | |||||||||||||||||
Singapore dollar | $ | 330 | $ | — | $ | — | |||||||||||
Yen | 554 | (12 | ) | (6 | ) | ||||||||||||
Euro | 245 | (1 | ) | — | |||||||||||||
Shekel | 62 | (1 | ) | — | |||||||||||||
$ | 1,191 | ||||||||||||||||
Convertible notes settlement obligations | 12 | (389 | ) | — | |||||||||||||
$ | (403 | ) | $ | (6 | ) | ||||||||||||
-1 | Notional amounts of forward contracts in U.S. dollars and convertible notes settlement obligations in shares. | ||||||||||||||||
(2) | Included in accounts payable and accrued expenses for forward contracts and in current debt for convertible notes settlement obligations. | ||||||||||||||||
(3) | Included in other noncurrent liabilities. | ||||||||||||||||
Net gains (losses) for derivative instruments without hedge accounting designation were included in other non-operating income (expense), net as follows: | |||||||||||||||||
Quarter Ended | Six Months Ended | ||||||||||||||||
March 5, | February 27, | March 5, | February 27, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
Foreign exchange contracts | $ | (15 | ) | $ | (7 | ) | $ | (73 | ) | $ | (21 | ) | |||||
Convertible notes settlement obligations | — | (15 | ) | 6 | (52 | ) | |||||||||||
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | Total gross notional amounts and fair values for derivative instruments with cash flow hedge accounting designation were as follows: | ||||||||||||||||
Notional Amount | Fair Value of Current Liabilities(1) | ||||||||||||||||
(in U.S. Dollars) | |||||||||||||||||
As of March 5, 2015 | |||||||||||||||||
Yen | $ | 32 | $ | — | |||||||||||||
$ | 32 | $ | — | ||||||||||||||
As of August 28, 2014 | |||||||||||||||||
Yen | $ | 94 | $ | (2 | ) | ||||||||||||
Euro | 24 | — | |||||||||||||||
$ | 118 | $ | (2 | ) | |||||||||||||
(1) | Included in accounts payable and accrued expenses. |
Equity_Plans_Tables
Equity Plans (Tables) | 6 Months Ended | ||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||
Assumptions used in Black-Scholes option valuation model | Stock options granted and assumptions used in the Black-Scholes option valuation model were as follows: | ||||||||||||||||
Quarter Ended | Six Months Ended | ||||||||||||||||
March 5, | February 27, | March 5, | February 27, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
Stock options granted | 7 | 9 | 8 | 11 | |||||||||||||
Weighted-average grant-date fair value per share | $15.34 | $9.58 | $14.96 | $9.17 | |||||||||||||
Average expected life in years | 5.6 | 4.8 | 5.6 | 4.8 | |||||||||||||
Weighted-average expected volatility | 44 | % | 46 | % | 45 | % | 47 | % | |||||||||
Weighted-average risk-free interest rate | 1.7 | % | 1.6 | % | 1.7 | % | 1.6 | % | |||||||||
Schedule of restricted stock awards activity | Restricted Stock Awards activity for the second quarters and first six months of 2015 and 2014 are summarized as follows: | ||||||||||||||||
Quarter Ended | Six Months Ended | ||||||||||||||||
March 5, | February 27, | March 5, | February 27, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
Restricted stock awards granted | 4 | 4 | 6 | 6 | |||||||||||||
Weighted-average grant-date fair values per share | $ | 35.85 | $ | 23.24 | $ | 34.33 | $ | 21.22 | |||||||||
Stock-based compensation expense | Stock-based Compensation Expense | ||||||||||||||||
Quarter Ended | Six Months Ended | ||||||||||||||||
March 5, | February 27, | March 5, | February 27, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
Stock-based compensation expense by caption: | |||||||||||||||||
Cost of goods sold | $ | 19 | $ | 8 | $ | 31 | $ | 15 | |||||||||
Selling, general and administrative | 18 | 13 | 33 | 24 | |||||||||||||
Research and development | 12 | 6 | 20 | 10 | |||||||||||||
$ | 49 | $ | 27 | $ | 84 | $ | 49 | ||||||||||
Stock-based compensation expense by type of award: | |||||||||||||||||
Stock options | $ | 23 | $ | 14 | $ | 41 | $ | 28 | |||||||||
Restricted stock awards | 26 | 13 | 43 | 21 | |||||||||||||
$ | 49 | $ | 27 | $ | 84 | $ | 49 | ||||||||||
Other_Operating_Income_Expense1
Other Operating (Income) Expense, Net (Tables) | 6 Months Ended | ||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||
Other Income and Expenses [Abstract] | |||||||||||||||||
Schedule of Other operating (income) expense, net | |||||||||||||||||
Quarter Ended | Six Months Ended | ||||||||||||||||
March 5, | February 27, | March 5, | February 27, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
(Gain) loss on disposition of property, plant and equipment | $ | (4 | ) | $ | 1 | $ | (10 | ) | $ | 9 | |||||||
Rambus settlement | — | — | — | 233 | |||||||||||||
Other | (12 | ) | 12 | (22 | ) | 5 | |||||||||||
$ | (16 | ) | $ | 13 | $ | (32 | ) | $ | 247 | ||||||||
Other_NonOperating_Income_Expe1
Other Non-Operating Income (Expense), Net (Tables) | 6 Months Ended | ||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||
Other Nonoperating Income (Expense) [Abstract] | |||||||||||||||||
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | |||||||||||||||||
Quarter Ended | Six Months Ended | ||||||||||||||||
March 5, | February 27, | March 5, | February 27, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
Loss on restructure of debt | $ | — | $ | (80 | ) | $ | (30 | ) | $ | (155 | ) | ||||||
Gain (loss) from changes in currency exchange rates | (6 | ) | (14 | ) | (27 | ) | (20 | ) | |||||||||
Adjustment to gain on MMJ Acquisition | — | (33 | ) | — | (33 | ) | |||||||||||
Other | — | 5 | 2 | 6 | |||||||||||||
$ | (6 | ) | $ | (122 | ) | $ | (55 | ) | $ | (202 | ) |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 6 Months Ended | ||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||
Basic and diluted earnings per share | |||||||||||||||||
Quarter Ended | Six Months Ended | ||||||||||||||||
March 5, | February 27, | March 5, | February 27, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
Net income available to Micron shareholders – Basic | $ | 934 | $ | 731 | $ | 1,937 | $ | 1,089 | |||||||||
Dilutive effect related to equity method investment | (2 | ) | — | (3 | ) | — | |||||||||||
Net income available to Micron shareholders – Diluted | $ | 932 | $ | 731 | $ | 1,934 | $ | 1,089 | |||||||||
Weighted-average common shares outstanding – Basic | 1,074 | 1,060 | 1,072 | 1,053 | |||||||||||||
Dilutive effect of equity plans and convertible notes | 116 | 141 | 121 | 146 | |||||||||||||
Weighted-average common shares outstanding – Diluted | 1,190 | 1,201 | 1,193 | 1,199 | |||||||||||||
Earnings per share: | |||||||||||||||||
Basic | $ | 0.87 | $ | 0.69 | $ | 1.81 | $ | 1.03 | |||||||||
Diluted | 0.78 | 0.61 | 1.62 | 0.91 | |||||||||||||
Segment_Information_Tables
Segment Information (Tables) | 6 Months Ended | ||||||||||||||||
Mar. 05, 2015 | |||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||
Segment Information | |||||||||||||||||
Quarter Ended | Six Months Ended | ||||||||||||||||
March 5, | February 27, | March 5, | February 27, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
Net sales: | |||||||||||||||||
CNBU | $ | 1,822 | $ | 1,835 | $ | 3,910 | $ | 3,579 | |||||||||
SBU | 954 | 901 | 1,938 | 1,706 | |||||||||||||
MBU | 856 | 908 | 1,796 | 1,960 | |||||||||||||
EBU | 502 | 422 | 1,041 | 831 | |||||||||||||
All Other | 32 | 41 | 54 | 73 | |||||||||||||
$ | 4,166 | $ | 4,107 | $ | 8,739 | $ | 8,149 | ||||||||||
Operating income (loss): | |||||||||||||||||
CNBU | $ | 493 | $ | 504 | $ | 1,116 | $ | 931 | |||||||||
SBU | (36 | ) | 79 | (10 | ) | 173 | |||||||||||
MBU | 262 | 178 | 568 | 344 | |||||||||||||
EBU | 115 | 80 | 233 | 158 | |||||||||||||
All Other | 21 | 28 | 33 | 47 | |||||||||||||
Unallocated | — | — | — | (233 | ) | ||||||||||||
$ | 855 | $ | 869 | $ | 1,940 | $ | 1,420 | ||||||||||
Cash_and_Investments_Details
Cash and Investments (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||||||
In Millions, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 | Aug. 28, 2014 | Aug. 29, 2013 | |||
Schedule of Available-for-sale Securities [Line Items] | |||||||||
Cash and equivalents | $3,547 | $4,305 | $3,547 | $4,305 | $4,150 | $2,880 | |||
Short-term investments | 932 | 932 | 384 | ||||||
Long-term marketable investments | 1,869 | [1] | 1,869 | [1] | 819 | [1] | |||
Total Fair Value | 6,348 | 6,348 | 5,353 | ||||||
Available-for-sale Securities, Gross Realized Gain (Loss), Disclosures [Abstract] | |||||||||
Proceeds from the sale of available-for-sale securities | 143 | 110 | 376 | 223 | |||||
Minimum [Member] | |||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||
Long-term marketable securities general maturities term (in years) | 1 year | ||||||||
Maximum [Member] | |||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||
Long-term marketable securities general maturities term (in years) | 4 years | ||||||||
Level 1 [Member] | |||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||
Cash and equivalents | 868 | [2] | 868 | [2] | 1,281 | [2] | |||
Short-term investments | 0 | [2] | 0 | [2] | 0 | [2] | |||
Long-term marketable investments | 1 | [1],[2] | 1 | [1],[2] | 1 | [1],[2] | |||
Total Fair Value | 869 | [2] | 869 | [2] | 1,282 | [2] | |||
Level 2 [Member] | |||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||
Cash and equivalents | 517 | [3] | 517 | [3] | 424 | [3] | |||
Short-term investments | 932 | [3] | 932 | [3] | 384 | [3] | |||
Long-term marketable investments | 1,868 | [1],[3] | 1,868 | [1],[3] | 818 | [1],[3] | |||
Total Fair Value | 3,317 | [3] | 3,317 | [3] | 1,626 | [3] | |||
Cash [Member] | |||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||
Cash and equivalents | 2,162 | 2,162 | 2,445 | ||||||
Short-term investments | 0 | 0 | 0 | ||||||
Long-term marketable investments | 0 | [1] | 0 | [1] | 0 | [1] | |||
Total Fair Value | 2,162 | 2,162 | 2,445 | ||||||
Money market funds [Member] | Level 1 [Member] | |||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||
Cash and equivalents | 868 | [2] | 868 | [2] | 1,281 | [2] | |||
Short-term investments | 0 | [2] | 0 | [2] | 0 | [2] | |||
Long-term marketable investments | 0 | [1],[2] | 0 | [1],[2] | 0 | [1],[2] | |||
Total Fair Value | 868 | [2] | 868 | [2] | 1,281 | [2] | |||
Marketable equity securities [Member] | Level 1 [Member] | |||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||
Cash and equivalents | 0 | [2] | 0 | [2] | 0 | [2] | |||
Short-term investments | 0 | [2] | 0 | [2] | 0 | [2] | |||
Long-term marketable investments | 1 | [1],[2] | 1 | [1],[2] | 1 | [1],[2] | |||
Total Fair Value | 1 | [2] | 1 | [2] | 1 | [2] | |||
Corporate bonds [Member] | Level 2 [Member] | |||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||
Cash and equivalents | 27 | [3] | 27 | [3] | 0 | [3] | |||
Short-term investments | 406 | [3] | 406 | [3] | 154 | [3] | |||
Long-term marketable investments | 946 | [1],[3] | 946 | [1],[3] | 407 | [1],[3] | |||
Total Fair Value | 1,379 | [3] | 1,379 | [3] | 561 | [3] | |||
Government securities [Member] | Level 2 [Member] | |||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||
Cash and equivalents | 9 | [3] | 9 | [3] | 0 | [3] | |||
Short-term investments | 146 | [3] | 146 | [3] | 136 | [3] | |||
Long-term marketable investments | 433 | [1],[3] | 433 | [1],[3] | 284 | [1],[3] | |||
Total Fair Value | 588 | [3] | 588 | [3] | 420 | [3] | |||
Asset-backed securities [Member] | Level 2 [Member] | |||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||
Cash and equivalents | 0 | [3] | 0 | [3] | 0 | [3] | |||
Short-term investments | 2 | [3] | 2 | [3] | 1 | [3] | |||
Long-term marketable investments | 475 | [1],[3] | 475 | [1],[3] | 127 | [1],[3] | |||
Total Fair Value | 477 | 477 | 128 | ||||||
Commercial paper [Member] | Level 2 [Member] | |||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||
Cash and equivalents | 141 | [3] | 141 | [3] | 22 | [3] | |||
Short-term investments | 321 | [3] | 321 | [3] | 85 | [3] | |||
Long-term marketable investments | 0 | [1],[3] | 0 | [1],[3] | 0 | [1],[3] | |||
Total Fair Value | 462 | [3] | 462 | [3] | 107 | [3] | |||
Certificates of deposit [Member] | Level 2 [Member] | |||||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||||
Cash and equivalents | 340 | [3] | 340 | [3] | 402 | [3] | |||
Short-term investments | 57 | [3] | 57 | [3] | 8 | [3] | |||
Long-term marketable investments | 14 | [1],[3] | 14 | [1],[3] | 0 | [1],[3] | |||
Total Fair Value | $411 | [3] | $411 | [3] | $410 | [3] | |||
[1] | The maturities of our long-term marketable securities generally 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 valued 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. As of MarchB 5, 2015, no adjustments were made to such pricing information. |
Receivables_Details
Receivables (Details) (USD $) | Mar. 05, 2015 | Aug. 28, 2014 |
In Millions, unless otherwise specified | ||
Receivables [Abstract] | ||
Trade receivables, net | $2,439 | $2,524 |
Income and other taxes | 56 | 104 |
Other | 266 | 278 |
Receivables | 2,761 | 2,906 |
Intel [Member] | Collaborative Arrangement Process Design and Process Development [Member] | ||
Receivables [Abstract] | ||
Other | $86 | $70 |
Inventories_Details
Inventories (Details) (USD $) | Mar. 05, 2015 | Aug. 28, 2014 |
In Millions, unless otherwise specified | ||
Inventory, Net, Items Net of Reserve Alternative [Abstract] | ||
Finished goods | $862 | $898 |
Work in process | 1,297 | 1,372 |
Raw materials and supplies | 218 | 185 |
Inventories | $2,377 | $2,455 |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Millions, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 | Aug. 28, 2014 | |||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||||||
Property, Plant and Equipment, Gross | $24,905 | $24,905 | $23,432 | |||||
Accumulated depreciation | -15,672 | -15,672 | -14,750 | |||||
Property, Plant and Equipment, Net | 9,233 | 9,233 | 8,682 | |||||
Depreciation [Abstract] | ||||||||
Depreciation expense | 611 | 486 | 1,224 | 954 | ||||
Land [Member] | ||||||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||||||
Property, Plant and Equipment, Gross | 88 | 88 | 86 | |||||
Buildings [Member] | ||||||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||||||
Property, Plant and Equipment, Gross | 5,205 | 5,205 | 5,093 | |||||
Equipment [Member] | ||||||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||||||
Property, Plant and Equipment, Gross | 19,097 | [1] | 19,097 | [1] | 17,781 | [1] | ||
Equipment [Member] | Equipment not placed into service [Member] | ||||||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||||||
Property, Plant and Equipment, Gross | 661 | 661 | 826 | |||||
Construction in progress [Member] | ||||||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||||||
Property, Plant and Equipment, Gross | 161 | [2] | 161 | [2] | 114 | [2] | ||
Software [Member] | ||||||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||||||
Property, Plant and Equipment, Gross | $354 | $354 | $358 | |||||
[1] | Included costs related to equipment not placed into service of $661 million and $826 million, as of March 5, 2015 and August 28, 2014, respectively. | |||||||
[2] | Included building-related construction and tool installation costs on assets not placed into service. |
Equity_Method_Investments_Deta
Equity Method Investments (Details) | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | ||||||||||||||||||||||
Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 | Aug. 28, 2014 | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Aug. 28, 2014 | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Mar. 05, 2015 | Mar. 05, 2015 | Mar. 05, 2015 | Dec. 04, 2014 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Aug. 28, 2014 | Aug. 29, 2013 | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 | Aug. 28, 2014 | ||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Inotera [Member] | Inotera [Member] | Inotera [Member] | Inotera [Member] | Inotera [Member] | Inotera [Member] | Inotera [Member] | Inotera [Member] | Inotera [Member] | Inotera [Member] | Inotera [Member] | Inotera [Member] | Inotera [Member] | Tera Probe [Member] | Tera Probe [Member] | Tera Probe [Member] | Tera Probe [Member] | Tera Probe [Member] | Tera Probe [Member] | Tera Probe [Member] | Tera Probe [Member] | Other [Member] | Other [Member] | Other [Member] | Other [Member] | Other [Member] | ||||
USD ($) | USD ($) | USD ($) | USD ($) | TWD | USD ($) | Inventories [Member] | Inventories [Member] | Inventories [Member] | Inventories [Member] | Nanya [Member] | Income Tax Expense (Benefit), Adjustment of Deferred Tax (Asset) Liability [Member] | Variable interest entity, not primary beneficiary [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | JPY (¥) | USD ($) | MMJ Acquisition [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||||||||
DRAM [Member] | DRAM [Member] | DRAM [Member] | DRAM [Member] | USD ($) | USD ($) | |||||||||||||||||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | |||||||||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||||||||||||
Investment Balance | $1,239,000,000 | $1,239,000,000 | $971,000,000 | $1,190,000,000 | [1] | $1,190,000,000 | [1] | $914,000,000 | [1] | $32,000,000 | $32,000,000 | $48,000,000 | $17,000,000 | $17,000,000 | $9,000,000 | |||||||||||||||||||
Ownership Percentage (in hundredths) | 33.00% | [1] | 33.00% | [1] | 33.00% | [1] | 40.00% | 40.00% | 40.00% | |||||||||||||||||||||||||
Variable Interest Entity Entity Maximum Loss Exposure Amount From Investment Balance | 1,190,000,000 | |||||||||||||||||||||||||||||||||
Equity in net income of equity method investees, net of tax | 208,000,000 | 134,000,000 | 332,000,000 | 220,000,000 | 206,000,000 | 131,000,000 | 335,000,000 | 215,000,000 | 65,000,000 | 1,000,000 | 4,000,000 | -6,000,000 | 6,000,000 | 1,000,000 | -1,000,000 | 3,000,000 | -1,000,000 | |||||||||||||||||
Percentage interest held by a third party (in hundredths) | 33.00% | |||||||||||||||||||||||||||||||||
Market value of equity interests | 3,090,000,000 | 3,090,000,000 | 33,000,000 | 33,000,000 | ||||||||||||||||||||||||||||||
Equity Method Investment, Quoted Market Price Per Share | 45.25 | ¥ 1,076 | ||||||||||||||||||||||||||||||||
Amount in accumulated other comprehensive income (loss) for cumulative translation adjustments on its investment | -19,000,000 | -19,000,000 | 44,000,000 | |||||||||||||||||||||||||||||||
Purchases of DRAM products from Inotera | 628,000,000 | 714,000,000 | 1,360,000,000 | 1,300,000,000 | ||||||||||||||||||||||||||||||
Cumulative Percentage Ownership after All Transactions | 40.00% | |||||||||||||||||||||||||||||||||
Tera Probe other-than-temporary Impairment | 10,000,000 | |||||||||||||||||||||||||||||||||
Difference between cost of Tera Probe investment and underlying equity | $31,000,000 | $31,000,000 | ||||||||||||||||||||||||||||||||
Weighted-average period for remaining Tera Probe amortization (in years) | 7 years | |||||||||||||||||||||||||||||||||
[1] | (1) Entity is a variable interest entity. |
Equity_Method_Investments_2_De
Equity Method Investments - 2 (Details) (Tera Probe [Member], USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 |
Tera Probe [Member] | ||||
Related Party Transaction [Line Items] | ||||
Related party purchases from Tera Probe | $22 | $31 | $47 | $64 |
Intangible_Assets_Details
Intangible Assets (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Millions, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 | Aug. 28, 2014 |
Intangible Assets [Abstract] | |||||
Amortization expense for intangible assets | $30 | $31 | $60 | $54 | |
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract] | |||||
Annual amortization for 2015 | 116 | 116 | |||
Annual amortization for 2016 | 103 | 103 | |||
Annual amortization for 2017 | 92 | 92 | |||
Annual amortization for 2018 | 81 | 81 | |||
Annual amortization for 2019 | 33 | 33 | |||
Product and process technology [Member] | |||||
Intangible Assets [Abstract] | |||||
Gross Amount | 823 | 823 | 809 | ||
Accumulated Amortization | -383 | -383 | -341 | ||
Product and process technology intangible asset capitalized during period | $32 | $19 | |||
Product and process technology intangible asset capitalized during period, weighted-average useful lives (in years) | 7 years | 10 years |
Accounts_Payable_and_Accrued_E2
Accounts Payable and Accrued Expenses (Details) (USD $) | Mar. 05, 2015 | Aug. 28, 2014 |
In Millions, unless otherwise specified | ||
Accounts payable | $948 | $996 |
Property, plant and equipment payables | 503 | 289 |
Related party payables | 437 | 673 |
Salaries, wages and benefits | 338 | 456 |
Customer advances | 101 | 98 |
Income and other taxes | 83 | 71 |
Other | 252 | 281 |
Total accounts payable and accrued expenses | 2,662 | 2,864 |
Other Liabilities, Noncurrent [Abstract] | ||
Other noncurrent liabilities | 887 | 1,102 |
DRAM [Member] | ||
Customer advances | 90 | 90 |
Customer advances [Member] | DRAM [Member] | ||
Other Liabilities, Noncurrent [Abstract] | ||
Other noncurrent liabilities | 45 | 90 |
Inotera [Member] | DRAM [Member] | ||
Related party payables | 427 | 660 |
Tera Probe [Member] | ||
Related party payables | $10 | $13 |
Debt_Schedule_of_Longterm_Debt
Debt - Schedule of Long-term Debt (Details) (USD $) | 3 Months Ended | 6 Months Ended | 3 Months Ended | ||||||
Share data in Millions, except Per Share data, unless otherwise specified | Mar. 05, 2015 | Mar. 05, 2015 | Feb. 12, 2015 | Dec. 02, 2014 | Aug. 28, 2014 | Feb. 03, 2015 | |||
Debt Instrument [Line Items] | |||||||||
Current debt | $1,199,000,000 | $1,199,000,000 | $1,638,000,000 | ||||||
Long-term debt | 5,519,000,000 | 5,519,000,000 | 4,955,000,000 | ||||||
Debt | 6,718,000,000 | 6,718,000,000 | 6,593,000,000 | ||||||
Convertible Debt Issuances [Abstract] | |||||||||
Share Price (in dollars per share) | $29.28 | $29.28 | |||||||
Capital lease obligations [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Current debt | 369,000,000 | [1] | 369,000,000 | [1] | 323,000,000 | [1] | |||
Long-term debt | 576,000,000 | [1] | 576,000,000 | [1] | 588,000,000 | [1] | |||
Debt | 945,000,000 | [1] | 945,000,000 | [1] | 911,000,000 | [1] | |||
Effective interest rate (in hundredths) | 3.90% | 3.90% | 4.30% | ||||||
Capital Lease Obligations [Abstract] | |||||||||
Capital Lease Obligations Incurred | 287,000,000 | ||||||||
Debt Instrument, Interest Rate, Effective Percentage, Incurred in Current Period | 3.20% | ||||||||
Long-term Debt, by Maturity [Abstract] | |||||||||
Debt Instrument, Unamortized Discount | -77,000,000 | -77,000,000 | |||||||
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||||||||
Remainder of 2015 | 202,000,000 | 202,000,000 | |||||||
2016 | 340,000,000 | 340,000,000 | |||||||
2017 | 164,000,000 | 164,000,000 | |||||||
2018 | 122,000,000 | 122,000,000 | |||||||
2019 | 85,000,000 | 85,000,000 | |||||||
2020 and thereafter | 109,000,000 | 109,000,000 | |||||||
Debt Instrument, Unamortized Discount | -77,000,000 | -77,000,000 | |||||||
Capital Lease Obligations | 945,000,000 | 945,000,000 | |||||||
Capital lease obligations [Member] | Sales leaseback transactions [Member] | |||||||||
Capital Lease Obligations [Abstract] | |||||||||
Capital Lease Obligations Incurred | 254,000,000 | ||||||||
Reorganization obligation [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Current debt | 157,000,000 | 157,000,000 | 192,000,000 | ||||||
Long-term debt | 684,000,000 | 684,000,000 | 939,000,000 | ||||||
Debt | 841,000,000 | 841,000,000 | 1,131,000,000 | ||||||
Effective interest rate (in hundredths) | 6.25% | 6.25% | |||||||
Secured Debt [Member] | 2019 senior notes | |||||||||
Debt Instrument [Line Items] | |||||||||
Current debt | 92,000,000 | 92,000,000 | 92,000,000 | ||||||
Long-term debt | 278,000,000 | 278,000,000 | 324,000,000 | ||||||
Debt | 370,000,000 | 370,000,000 | 416,000,000 | ||||||
Stated interest rate (in hundredths) | 1.26% | 1.26% | |||||||
Effective interest rate (in hundredths) | 1.97% | 1.97% | |||||||
Corporate bonds [Member] | 2022 senior notes [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Current debt | 0 | 0 | 0 | ||||||
Long-term debt | 600,000,000 | 600,000,000 | 600,000,000 | ||||||
Debt | 600,000,000 | 600,000,000 | 600,000,000 | ||||||
Stated interest rate (in hundredths) | 5.88% | 5.88% | |||||||
Effective interest rate (in hundredths) | 6.14% | 6.14% | |||||||
Corporate bonds [Member] | 2023 senior notes [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Current debt | 0 | 0 | 0 | ||||||
Long-term debt | 1,000,000,000 | 1,000,000,000 | 0 | ||||||
Debt | 1,000,000,000 | 1,000,000,000 | 0 | ||||||
Stated interest rate (in hundredths) | 5.25% | 5.25% | |||||||
Effective interest rate (in hundredths) | 5.43% | 5.43% | |||||||
Unsecured Debt [Abstract] | |||||||||
Face Value of Debt | 1,000,000,000 | ||||||||
Payments of Debt Issuance Costs | 12,000,000 | ||||||||
Debt Instrument, Domestic Restricted Subsidiaries, Ownership Percentage by Parent | 80.00% | 80.00% | |||||||
Debt Instrument, Redemption Price, Percentage | 105.25% | ||||||||
Corporate bonds [Member] | 2023 senior notes [Member] | Maximum [Member] | |||||||||
Unsecured Debt [Abstract] | |||||||||
Debt Instrument Redemption Price Percentage of Principal Amount Redeemable Using Equity Offering Proceeds | 35.00% | ||||||||
Corporate bonds [Member] | 2025 senior notes [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Current debt | 0 | 0 | 0 | ||||||
Long-term debt | 1,150,000,000 | 1,150,000,000 | 1,150,000,000 | ||||||
Debt | 1,150,000,000 | 1,150,000,000 | 1,150,000,000 | ||||||
Stated interest rate (in hundredths) | 5.50% | 5.50% | |||||||
Effective interest rate (in hundredths) | 5.56% | 5.56% | |||||||
Convertible Debt [Member] | |||||||||
Convertible Debt Issuances [Abstract] | |||||||||
Outstanding Principal | 2,289,000,000 | 2,289,000,000 | |||||||
Underlying Shares (in shares) | 157 | 157 | |||||||
Conversion value in excess of principal | 2,334,000,000 | ||||||||
Conversion rights, minimum number of trading days (in days) | 20 | ||||||||
Conversion rights, consecutive trading period (in days) | 30 days | ||||||||
Conversion rights, threshold percentage of applicable conversion price (in hundredths) | 130.00% | ||||||||
Convertible Debt [Member] | 2031B convertible senior notes [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Current debt | 0 | 0 | 362,000,000 | ||||||
Long-term debt | 0 | 0 | 0 | ||||||
Debt | 0 | 0 | 362,000,000 | ||||||
Stated interest rate (in hundredths) | 1.88% | 1.88% | |||||||
Effective interest rate (in hundredths) | 6.98% | 6.98% | |||||||
Convertible Debt [Member] | 2032C convertible senior notes [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Current debt | 0 | [2],[3] | 0 | [2],[3] | 0 | [2] | |||
Long-term debt | 314,000,000 | [2],[3] | 314,000,000 | [2],[3] | 314,000,000 | [2] | |||
Debt | 314,000,000 | [2],[3] | 314,000,000 | [2],[3] | 314,000,000 | [2] | |||
Stated interest rate (in hundredths) | 2.38% | 2.38% | |||||||
Effective interest rate (in hundredths) | 5.95% | 5.95% | |||||||
Convertible Debt Issuances [Abstract] | |||||||||
Debt Instrument Put Date Earliest | 31-May-19 | [4] | |||||||
Outstanding Principal | 357,000,000 | 357,000,000 | |||||||
Underlying Shares (in shares) | 37 | 37 | |||||||
Conversion price per share (in dollars per share) | $9.63 | $9.63 | |||||||
Conversion price per share threshold (in dollars per share) | $12.52 | [5] | |||||||
Conversion value in excess of principal | 730,000,000 | [6] | |||||||
Convertible Debt [Member] | 2032D convertible senior notes [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Current debt | 0 | [2],[3] | 0 | [2],[3] | 0 | [2] | |||
Long-term debt | 265,000,000 | [2],[3] | 265,000,000 | [2],[3] | 288,000,000 | [2] | |||
Debt | 265,000,000 | [2],[3] | 265,000,000 | [2],[3] | 288,000,000 | [2] | |||
Stated interest rate (in hundredths) | 3.13% | 3.13% | |||||||
Effective interest rate (in hundredths) | 6.33% | 6.33% | |||||||
Convertible Debt Issuances [Abstract] | |||||||||
Debt Instrument Put Date Earliest | 31-May-21 | [4] | |||||||
Outstanding Principal | 313,000,000 | 313,000,000 | |||||||
Underlying Shares (in shares) | 31 | 31 | |||||||
Conversion price per share (in dollars per share) | $9.98 | $9.98 | |||||||
Conversion price per share threshold (in dollars per share) | $12.97 | [5] | |||||||
Conversion value in excess of principal | 604,000,000 | [6] | |||||||
Convertible Debt [Member] | 2033E convertible senior notes [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Current debt | 275,000,000 | [2],[3] | 275,000,000 | [2],[3] | 278,000,000 | [2] | |||
Long-term debt | 0 | [2],[3] | 0 | [2],[3] | 0 | [2] | |||
Debt | 275,000,000 | [2],[3] | 275,000,000 | [2],[3] | 278,000,000 | [2] | |||
Stated interest rate (in hundredths) | 1.63% | 1.63% | |||||||
Effective interest rate (in hundredths) | 4.50% | 4.50% | |||||||
Convertible Debt Issuances [Abstract] | |||||||||
Debt Instrument Put Date Earliest | 28-Feb-18 | [4] | |||||||
Outstanding Principal | 294,000,000 | 294,000,000 | |||||||
Underlying Shares (in shares) | 27 | 27 | |||||||
Conversion price per share (in dollars per share) | $10.93 | $10.93 | |||||||
Conversion price per share threshold (in dollars per share) | $14.21 | [5] | |||||||
Conversion value in excess of principal | 492,000,000 | [6] | |||||||
Convertible Debt [Member] | 2033F convertible senior note [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Current debt | 268,000,000 | [2],[3] | 268,000,000 | [2],[3] | 265,000,000 | [2] | |||
Long-term debt | 0 | [2],[3] | 0 | [2],[3] | 0 | [2] | |||
Debt | 268,000,000 | [2],[3] | 268,000,000 | [2],[3] | 265,000,000 | [2] | |||
Stated interest rate (in hundredths) | 2.13% | 2.13% | |||||||
Effective interest rate (in hundredths) | 4.93% | 4.93% | |||||||
Convertible Debt Issuances [Abstract] | |||||||||
Debt Instrument Put Date Earliest | 28-Feb-20 | [4] | |||||||
Outstanding Principal | 300,000,000 | 300,000,000 | |||||||
Underlying Shares (in shares) | 27 | 27 | |||||||
Conversion price per share (in dollars per share) | $10.93 | $10.93 | |||||||
Conversion price per share threshold (in dollars per share) | $14.21 | [5] | |||||||
Conversion value in excess of principal | 504,000,000 | [6] | |||||||
Convertible Debt [Member] | 2043G convertible senior notes [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Current debt | 0 | [2] | 0 | [2] | 0 | [2] | |||
Long-term debt | 642,000,000 | [2] | 642,000,000 | [2] | 636,000,000 | [2] | |||
Debt | 642,000,000 | [2] | 642,000,000 | [2] | 636,000,000 | [2] | |||
Stated interest rate (in hundredths) | 3.00% | 3.00% | |||||||
Effective interest rate (in hundredths) | 6.76% | 6.76% | |||||||
Convertible Debt Issuances [Abstract] | |||||||||
Debt Instrument Put Date Earliest | 30-Nov-28 | [4],[7] | |||||||
Outstanding Principal | 1,025,000,000 | [7] | 1,025,000,000 | [7] | |||||
Underlying Shares (in shares) | 35 | 35 | |||||||
Conversion price per share (in dollars per share) | $29.16 | $29.16 | |||||||
Conversion price per share threshold (in dollars per share) | $37.91 | ||||||||
Conversion value in excess of principal | 4,000,000 | [6] | |||||||
Debt Instrument Issued At A Discount, Original Principal Amount | 820,000,000 | 820,000,000 | |||||||
Debt Instrument, Scheduled Accreted Principal Amount | 917,000,000 | 917,000,000 | |||||||
Notes Payable, Other Payables [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Current debt | 38,000,000 | 38,000,000 | 126,000,000 | ||||||
Long-term debt | 10,000,000 | 10,000,000 | 116,000,000 | ||||||
Debt | 48,000,000 | 48,000,000 | 242,000,000 | ||||||
Stated interest rate (in hundredths) | 2.63% | 2.63% | |||||||
Effective interest rate (in hundredths) | 2.63% | 2.63% | |||||||
Line of Credit [Member] | Revolving Credit Facility 1 [Member] | |||||||||
Line of Credit Facility [Abstract] | |||||||||
Debt instrument, original term | 3 years | ||||||||
Terminated Line of Credit | 255,000,000 | ||||||||
Line of Credit [Member] | Revolving Credit Facility 4 [Member] | |||||||||
Line of Credit Facility [Abstract] | |||||||||
Debt instrument, original term | 5 years | ||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 750,000,000 | 750,000,000 | |||||||
Percentage Of Collateral To Face Value Of Issued And Ouststanding Credit Facility | 80.00% | 80.00% | |||||||
Line of Credit Facility, Current Borrowing Capacity | 704,000,000 | 704,000,000 | |||||||
Line of Credit [Member] | Revolving Credit Facility 4 [Member] | Libor [Member] | Minimum [Member] | |||||||||
Line of Credit Facility [Abstract] | |||||||||
Margin on variable rate financing (in hundredths) | 1.75% | ||||||||
Line of Credit [Member] | Revolving Credit Facility 4 [Member] | Libor [Member] | Maximum [Member] | |||||||||
Line of Credit Facility [Abstract] | |||||||||
Margin on variable rate financing (in hundredths) | 2.25% | ||||||||
Line of Credit [Member] | Revolving Credit Facility 2 [Member] | |||||||||
Line of Credit Facility [Abstract] | |||||||||
Debt instrument, original term | 3 years | ||||||||
Terminated Line of Credit | 153,000,000 | ||||||||
Line of Credit [Member] | Revolving Credit Facility 3 [Member] | |||||||||
Line of Credit Facility [Abstract] | |||||||||
Debt instrument, original term | 5 years | ||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 540,000,000 | 540,000,000 | |||||||
Line of Credit Facility, Current Borrowing Capacity | 473,000,000 | 473,000,000 | |||||||
Line of Credit [Member] | Revolving Credit Facility 3 [Member] | Libor [Member] | Minimum [Member] | |||||||||
Line of Credit Facility [Abstract] | |||||||||
Margin on variable rate financing (in hundredths) | 1.25% | ||||||||
Line of Credit [Member] | Revolving Credit Facility 3 [Member] | Libor [Member] | Maximum [Member] | |||||||||
Line of Credit Facility [Abstract] | |||||||||
Margin on variable rate financing (in hundredths) | 1.75% | ||||||||
Loans Payable [Member] | |||||||||
Long-term Debt, by Maturity [Abstract] | |||||||||
Remainder of 2015 | 65,000,000 | 65,000,000 | |||||||
2016 | 287,000,000 | 287,000,000 | |||||||
2017 | 258,000,000 | 258,000,000 | |||||||
2018 | 551,000,000 | 551,000,000 | |||||||
2019 | 643,000,000 | 643,000,000 | |||||||
2020 and thereafter | 4,561,000,000 | 4,561,000,000 | |||||||
Debt Instrument, Unamortized Discount | -592,000,000 | -592,000,000 | |||||||
Notes Payable | 5,773,000,000 | 5,773,000,000 | |||||||
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||||||||
Debt Instrument, Unamortized Discount | ($592,000,000) | ($592,000,000) | |||||||
[1] | Weighted-average imputed rate of 3.9% and 4.3% as of MarchB 5, 2015 and August 28, 2014, respectively. | ||||||||
[2] | We have either the obligation or the option to pay cash for the principal amount due upon conversion for all of our convertible notes. Since it is our current intent to settle in cash the principal amount of all of our convertible notes upon conversion, the dilutive effect of such notes on earnings per share is computed under the treasury stock method. | ||||||||
[3] | Since the closing price of our common stock for at least 20 trading days in the 30 trading day period ending on December 31, 2014 exceeded 130% of the conversion price per share, holders had the right to convert their notes at any time during the calendar quarter ended March 31, 2015. The closing price of our common stock also exceeded the thresholds for the calendar quarter ended March 31, 2015; therefore, these notes are convertible by the holders through June 30, 2015. The 2033 Notes are classified as current because the terms of these notes would require us to pay cash for the principal amount of any converted notes. | ||||||||
[4] | The terms of our convertible notes give holders the right to require us to repurchase all or a portion of their notes at a date prior to the contractual maturities of the notes. | ||||||||
[5] | Holders have the right to convert all or a portion of their notes at a date prior to the contractual maturity if, during any calendar quarter, 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. The closing price of our common stock exceeded the thresholds for the calendar quarter ended March 31, 2015; therefore, our 2032 Notes and 2033 Notes notes are convertible by the holders through June 30, 2015. | ||||||||
[6] | Based on our closing share price of $29.28 as of MarchB 5, 2015. | ||||||||
[7] | The original principal amount of $820 million accretes up to $917 million in November 2028 and $1.03 billion at maturity in 2043. |
Debt_Extinguishment_of_Debt_De
Debt - Extinguishment of Debt (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Millions, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 | |
Extinguishment of Debt [Line Items] | |||||
Debt Instrument, Increase (Decrease), Net Principal | $723 | ||||
Debt Instrument, Increase (Decrease), Net | 482 | ||||
Cash, Increase (Decrease), Net Change As A Result Of Debt Restructure Activities | 334 | ||||
Debt Instrument, Decrease in Equity | -106 | ||||
(Loss) gain on restructure of debt | 0 | -80 | -30 | -155 | |
Convertible Notes Payable [Member] | Conversion And Settlement [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Debt Instrument, Increase (Decrease), Net Principal | -120 | ||||
Debt Instrument, Increase (Decrease), Net | -368 | ||||
Repayments to Settle Long-term Debt Obligations, Gross | -407 | ||||
Debt Instrument, Decrease in Equity | -14 | ||||
Volume-weighted-average price of our common stock period of consecutive trading days (in days) | 20 | ||||
Interest and debt expense incurred through restructure of debt | 112 | ||||
Face value of debt extinguished | 351 | ||||
Convertible Notes Payable [Member] | Repurchase [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Debt Instrument, Increase (Decrease), Net Principal | -36 | ||||
Extinguishment of debt carrying amount | -30 | ||||
Repayments to Settle Long-term Debt Obligations, Gross | -125 | ||||
Debt Instrument, Decrease in Equity | -92 | ||||
Face value of debt extinguished | 164 | ||||
Convertible Notes Payable [Member] | Exchanged [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Interest and debt expense incurred through restructure of debt | 49 | ||||
Face value of debt extinguished | 440 | ||||
Convertible Notes Payable [Member] | 2031B convertible senior notes [Member] | Conversion And Settlement [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Debt Instrument, Increase (Decrease), Net Principal | -114 | ||||
Debt Instrument, Increase (Decrease), Net | -362 | ||||
Repayments to Settle Long-term Debt Obligations, Gross | -389 | ||||
Debt Instrument, Decrease in Equity | 0 | ||||
Convertible Notes Payable [Member] | 2032C convertible senior notes [Member] | Repurchase [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Debt Instrument, Increase (Decrease), Net Principal | -5 | ||||
Extinguishment of debt carrying amount | -4 | ||||
Repayments to Settle Long-term Debt Obligations, Gross | -18 | ||||
Debt Instrument, Decrease in Equity | -13 | ||||
Convertible Notes Payable [Member] | 2032D convertible senior notes [Member] | Repurchase [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Debt Instrument, Increase (Decrease), Net Principal | -31 | ||||
Extinguishment of debt carrying amount | -26 | ||||
Repayments to Settle Long-term Debt Obligations, Gross | -107 | ||||
Debt Instrument, Decrease in Equity | -79 | ||||
Convertible Notes Payable [Member] | 2033E convertible senior notes [Member] | Conversion And Settlement [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Debt Instrument, Increase (Decrease), Net Principal | -6 | ||||
Debt Instrument, Increase (Decrease), Net | -6 | ||||
Repayments to Settle Long-term Debt Obligations, Gross | -18 | ||||
Debt Instrument, Decrease in Equity | -14 | ||||
Corporate bonds [Member] | 2023 senior notes [Member] | Debt Issuance [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Debt Instrument, Increase (Decrease), Net Principal | 1,000 | ||||
Debt Instrument, Increase (Decrease), Net | 1,000 | ||||
Proceeds from Debt, Net of Issuance Costs | 988 | ||||
Debt Instrument, Decrease in Equity | 0 | ||||
Notes Payable, Other Payables [Member] | Prepayment [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Debt Instrument, Increase (Decrease), Net Principal | -121 | ||||
Extinguishment of debt carrying amount | -120 | ||||
Repayments to Settle Long-term Debt Obligations, Gross | -122 | ||||
Debt Instrument, Decrease in Equity | 0 | ||||
Other Non-Operating Income Expense Net [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
(Loss) gain on restructure of debt | -30 | [1] | |||
Other Non-Operating Income Expense Net [Member] | Convertible Notes Payable [Member] | Conversion And Settlement [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
(Loss) gain on restructure of debt | -22 | [1] | |||
Interest and debt expense incurred through restructure of debt | 106 | ||||
Other Non-Operating Income Expense Net [Member] | Convertible Notes Payable [Member] | Repurchase [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
(Loss) gain on restructure of debt | -3 | [1] | |||
Interest and debt expense incurred through restructure of debt | 11 | ||||
Other Non-Operating Income Expense Net [Member] | Convertible Notes Payable [Member] | Exchanged [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Interest and debt expense incurred through restructure of debt | 38 | ||||
Other Non-Operating Income Expense Net [Member] | Convertible Notes Payable [Member] | 2031B convertible senior notes [Member] | Conversion And Settlement [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
(Loss) gain on restructure of debt | -24 | [1] | |||
Other Non-Operating Income Expense Net [Member] | Convertible Notes Payable [Member] | 2032C convertible senior notes [Member] | Repurchase [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
(Loss) gain on restructure of debt | -1 | [1] | |||
Other Non-Operating Income Expense Net [Member] | Convertible Notes Payable [Member] | 2032D convertible senior notes [Member] | Repurchase [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
(Loss) gain on restructure of debt | -2 | [1] | |||
Other Non-Operating Income Expense Net [Member] | Convertible Notes Payable [Member] | 2033E convertible senior notes [Member] | Conversion And Settlement [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
(Loss) gain on restructure of debt | 2 | [1] | |||
Other Non-Operating Income Expense Net [Member] | Corporate bonds [Member] | 2023 senior notes [Member] | Debt Issuance [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
(Loss) gain on restructure of debt | 0 | [1] | |||
Other Non-Operating Income Expense Net [Member] | Notes Payable, Other Payables [Member] | Prepayment [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
(Loss) gain on restructure of debt | -5 | [1] | |||
Interest Expense [Member] | Convertible Notes Payable [Member] | Conversion And Settlement [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Interest and debt expense incurred through restructure of debt | 6 | ||||
Interest Expense [Member] | Convertible Notes Payable [Member] | Exchanged [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Interest and debt expense incurred through restructure of debt | $11 | ||||
[1] | Included in other non-operating expense. |
Contingencies_Details
Contingencies (Details) (USD $) | 0 Months Ended | 6 Months Ended | 0 Months Ended | 1 Months Ended | 29 Months Ended | |
Mar. 13, 2014 | Mar. 05, 2015 | Jun. 23, 2010 | Jul. 31, 2006 | Nov. 29, 2012 | Mar. 10, 2014 | |
integer | integer | integer | integer | |||
Qimonda AG Inotera Share Purchase Proceedings [Member] | Inotera [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss contingency, damages awarded, value | $1,000,000 | |||||
Equity method investment carrying value of shares acquired from Qimonda | 657,000,000 | |||||
Equity method investment quoted market value of shares acquired from Qimonda | 1,700,000,000 | |||||
Equity method investment approximate percentage of Inotera shares acquired from Qimonda | 55.00% | |||||
Patent Matters [Member] | HSM Portfolio LLC and Technology Properties LLC [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Number of other defendants | 17 | |||||
Number of patents allegedly infringed | 4 | |||||
Patent Matters [Member] | HSM Portfolio LLC and Technology Properties LLC [Member] | Elpida Memories, Inc. now known as Micron Memory Japan, Inc. [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Number of patents allegedly infringed | 2 | |||||
Patent Matters [Member] | Board Of Trustees For The University Of Illinois [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Number of patents allegedly infringed | 3 | |||||
Number of petitions submitted for inter-partes review | 3 | |||||
Number of patent claims found to be invalid by the Patent and Trademark Office | 3 | |||||
Patent Matters [Member] | Semcon Tech, LLC [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Number of patents allegedly infringed | 1 | |||||
Patent Matters [Member] | Elm 3DS Innovations, LLC [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Number of patents allegedly infringed | 10 | |||||
Patent Matters [Member] | Innovative Memory Solutions, Inc. [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Number of patents allegedly infringed | 8 | |||||
Antitrust Matters [Member] | DRAM Purported Class Action Price-fixing Lawsuit [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Number of lawsuits filed | 68 | |||||
Approximate number of U.S. states and territories filing suit | 40 | |||||
Settlement agreement execution date | 23-Jun-10 | |||||
Settlement agreement amount | 67,000,000 | |||||
Settlement agreement number of installment payments | 3 | |||||
Settlement agreement, number of years for installment payments (in years) | 2 years | |||||
Amount paid into an escrow account in connection with settlement | $67,000,000 | |||||
Securities Matter [Member] | Former Shareholders of Elpida Memory, Inc [Member] | Elpida Memories, Inc. now known as Micron Memory Japan, Inc. [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Number of plaintiffs | 7 |
Redeemable_Convertible_Notes_D
Redeemable Convertible Notes (Details) (USD $) | Mar. 05, 2015 | Aug. 28, 2014 |
In Millions, unless otherwise specified | ||
Debt Instrument [Line Items] | ||
Redeemable convertible notes | $51 | $57 |
2033E and 2033F convertible senior notes [Member] | ||
Debt Instrument [Line Items] | ||
Redeemable convertible notes | $51 | $57 |
Equity_Changes_in_the_Componen
Equity - Changes in the Components of Equity (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Balance | $11,573 | $10,006 | ||
Net income (loss) | 935 | 741 | 1,937 | 1,122 |
Other comprehensive income (loss) | -54 | -9 | -75 | -4 |
Comprehensive income (loss) | 881 | 732 | 1,862 | 1,118 |
Contributions from noncontrolling interests | 20 | 49 | ||
Distributions to noncontrolling interests | -6 | -19 | ||
Acquisition of noncontrolling interest in MMT | 0 | -136 | ||
Capital and other transactions attributable to Micron | -208 | -974 | ||
Balance | 13,241 | 10,044 | 13,241 | 10,044 |
Stock repurchased and retired during the period for equity plans (in shares) | 2 | 4 | ||
Stock repurchased and retired during the period for equity plans | 52 | 73 | ||
Attributable to Micron [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Balance | 10,771 | 9,142 | ||
Net income (loss) | 1,937 | 1,089 | ||
Other comprehensive income (loss) | -74 | -4 | ||
Comprehensive income (loss) | 1,863 | 1,085 | ||
Contributions from noncontrolling interests | 0 | 0 | ||
Distributions to noncontrolling interests | 0 | 0 | ||
Acquisition of noncontrolling interest in MMT | 0 | 31 | ||
Capital and other transactions attributable to Micron | -208 | -974 | ||
Balance | 12,426 | 9,284 | 12,426 | 9,284 |
Noncontrolling Interests in Subsidiaries [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Balance | 802 | 864 | ||
Net income (loss) | 0 | 33 | ||
Other comprehensive income (loss) | -1 | 0 | ||
Comprehensive income (loss) | -1 | 33 | ||
Contributions from noncontrolling interests | 20 | 49 | ||
Distributions to noncontrolling interests | -6 | -19 | ||
Acquisition of noncontrolling interest in MMT | 0 | -167 | ||
Capital and other transactions attributable to Micron | 0 | 0 | ||
Balance | $815 | $760 | $815 | $760 |
Equity_Common_Stock_Repurchase
Equity Common Stock Repurchases (Details) (USD $) | 3 Months Ended |
Share data in Millions, unless otherwise specified | Mar. 05, 2015 |
Equity, Class of Treasury Stock [Line Items] | |
Authorized share repurchase amount | $1,000,000,000 |
Treasury stock acquired (in shares) | 7 |
Value of treasury stock acquired | 192,000,000 |
Remaining authorized share repurchase amount | $808,000,000 |
Equity_Capped_Calls_Details
Equity - Capped Calls (Details) (Call Option [Member], Purchased options [Member], Convertible Debt [Member], USD $) | 6 Months Ended |
Mar. 05, 2015 | |
Minimum [Member] | |
Option Indexed to Issuer's Equity [Line Items] | |
Option indexed to Issuer's Equity, strike price (in dollars per share) | $9.50 |
Option Indexed to Issuer's Equity, capped ceiling | $12.67 |
Option Indexed To Issuers Equity Settlement Proceeds | $0 |
Maximum [Member] | |
Option Indexed to Issuer's Equity [Line Items] | |
Option indexed to Issuer's Equity, strike price (in dollars per share) | $10.93 |
Option Indexed to Issuer's Equity, capped ceiling | $16.04 |
Option Indexed To Issuers Equity Settlement Proceeds | $864,000,000 |
Equity_Restrictions_on_Net_Ass
Equity - Restrictions on Net Assets (Details) (USD $) | Mar. 05, 2015 |
In Millions, unless otherwise specified | |
MMJ Group [Member] | |
Restrictions for Consolidated and Unconsolidated Subsidiaries [Abstract] | |
Amount of restricted net assets for consolidated subsidiaries | $3,110 |
MMJ Group [Member] | Cash and Cash Equivalents [Member] | |
Restrictions for Consolidated and Unconsolidated Subsidiaries [Abstract] | |
Amount of restricted net assets for consolidated subsidiaries | 1,320 |
IM Flash Technologies, LLC [Member] | |
Restrictions for Consolidated and Unconsolidated Subsidiaries [Abstract] | |
Amount of restricted net assets for consolidated subsidiaries | $788 |
Equity_Accumulated_Other_Compr
Equity - Accumulated Other Comprehensive Income (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Accumulated other comprehensive income | $56 | |||
Other comprehensive income (loss) | -54 | -9 | -75 | -4 |
Accumulated other comprehensive income | -18 | -18 | ||
Cumulative Foreign Currency Translation Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Accumulated other comprehensive income | 42 | |||
Other comprehensive income before reclassifications | -74 | |||
Amount reclassified out of accumulated other comprehensive income | 0 | |||
Tax effects | 0 | |||
Other comprehensive income (loss) | -74 | |||
Accumulated other comprehensive income | -32 | -32 | ||
Gains (Losses) on Derivative Instruments, Net [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Accumulated other comprehensive income | 12 | |||
Other comprehensive income before reclassifications | -14 | |||
Amount reclassified out of accumulated other comprehensive income | -4 | |||
Tax effects | 1 | |||
Other comprehensive income (loss) | -17 | |||
Accumulated other comprehensive income | -5 | -5 | ||
Gains (Losses) on Investments, Net [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Accumulated other comprehensive income | 1 | |||
Other comprehensive income before reclassifications | -1 | |||
Amount reclassified out of accumulated other comprehensive income | 0 | |||
Tax effects | 0 | |||
Other comprehensive income (loss) | -1 | |||
Accumulated other comprehensive income | 0 | 0 | ||
Pension Liability Adjustments [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Accumulated other comprehensive income | 1 | |||
Other comprehensive income before reclassifications | 30 | |||
Amount reclassified out of accumulated other comprehensive income | -1 | |||
Tax effects | -11 | |||
Other comprehensive income (loss) | 18 | |||
Accumulated other comprehensive income | 19 | 19 | ||
Attributable to Micron [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Accumulated other comprehensive income | 56 | |||
Other comprehensive income before reclassifications | -59 | |||
Amount reclassified out of accumulated other comprehensive income | -5 | |||
Tax effects | -10 | |||
Other comprehensive income (loss) | -74 | -4 | ||
Accumulated other comprehensive income | ($18) | ($18) |
Equity_NCI_and_Consolidated_VI
Equity - NCI and Consolidated VIE Disclosures (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Millions, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 | Aug. 28, 2014 | |||
Variable Interest Entity [Line Items] | ||||||||
Noncontrolling interests in subsidiaries | $815 | $815 | $802 | |||||
R and D expenses reduced by reimbursements from Intel | -379 | -344 | -755 | -664 | ||||
Net sales | 4,166 | 4,107 | 8,739 | 8,149 | ||||
Trade receivables | 2,439 | 2,439 | 2,524 | |||||
Noncontrolling Interest Items [Abstract] | ||||||||
IMFT distributions to Intel | 6 | 19 | ||||||
Intel [Member] | Collaborative Arrangement Process Design and Process Development [Member] | ||||||||
Variable Interest Entity [Line Items] | ||||||||
R and D expenses reduced by reimbursements from Intel | 46 | 35 | 100 | 64 | ||||
IM Flash Technologies, LLC [Member] | Intel [Member] | NAND Flash [Member] | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Net sales | 100 | 104 | 208 | 205 | ||||
Trade receivables | 61 | 61 | 66 | |||||
Other Consolidated Entities [Member] | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Noncontrolling interests in subsidiaries | 15 | 15 | 16 | |||||
Variable Interest Entities Which We Have Determined That We Are the Primary Beneficiary [Member] | IM Flash Technologies, LLC [Member] | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Noncontrolling interests in subsidiaries | 707 | [1] | 707 | [1] | 693 | [1] | ||
Variable interest entity, ownership percentage by noncontrolling owners (in hundredths) | 49.00% | [1] | 49.00% | [1] | 49.00% | [1] | ||
Ownership percentage after stock transactions during period (in hundredths) | 51.00% | 51.00% | ||||||
Noncontrolling Interest Items [Abstract] | ||||||||
IMFT distributions to Micron | 0 | 10 | 6 | 10 | ||||
IMFT distributions to Intel | 0 | 10 | 6 | 10 | ||||
Micron contributions to IMFT | 0 | 0 | 21 | 51 | ||||
Intel contributions to IMFT | 0 | 0 | 20 | 49 | ||||
Variable Interest Entities Which We Have Determined That We Are the Primary Beneficiary [Member] | MP Mask Technology Center, LLC [Member] | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Noncontrolling interests in subsidiaries | $93 | [1] | $93 | [1] | $93 | [1] | ||
Variable interest entity, ownership percentage by noncontrolling owners (in hundredths) | 50.00% | [1] | 50.00% | [1] | 50.00% | [1] | ||
Ownership percentage after stock transactions during period (in hundredths) | 50.00% | 50.00% | ||||||
[1] | (1) Entity is a variable interest entity. |
Equity_Consolidated_VIE_assets
Equity - Consolidated VIE assets and liabilities (Details) (USD $) | Mar. 05, 2015 | Aug. 28, 2014 | Feb. 27, 2014 | Aug. 29, 2013 | ||
In Millions, unless otherwise specified | ||||||
Assets | ||||||
Cash and equivalents | $3,547 | $4,150 | $4,305 | $2,880 | ||
Receivables | 2,761 | 2,906 | ||||
Inventories | 2,377 | 2,455 | ||||
Other current assets | 301 | 350 | ||||
Total current assets | 9,918 | 10,245 | ||||
Property, plant and equipment, net | 9,233 | 8,682 | ||||
Other noncurrent assets | 468 | 497 | ||||
Total assets | 23,818 | 22,498 | ||||
Liabilities | ||||||
Accounts payable and accrued expenses | 2,662 | 2,864 | ||||
Deferred income | 259 | 309 | ||||
Current debt | 1,199 | 1,638 | ||||
Total current liabilities | 4,120 | 4,811 | ||||
Long-term debt | 5,519 | 4,955 | ||||
Other noncurrent liabilities | 887 | 1,102 | ||||
Total liabilities | 10,526 | 10,868 | ||||
Variable Interest Entity, Primary Beneficiary [Member] | IM Flash Technologies, LLC [Member] | ||||||
Assets | ||||||
Cash and equivalents | 115 | [1] | 84 | [1] | ||
Receivables | 72 | [1] | 73 | [1] | ||
Inventories | 51 | [1] | 48 | [1] | ||
Other current assets | 5 | [1] | 5 | [1] | ||
Total current assets | 243 | [1] | 210 | [1] | ||
Property, plant and equipment, net | 1,506 | [1] | 1,545 | [1] | ||
Other noncurrent assets | 42 | [1] | 47 | [1] | ||
Total assets | 1,791 | [1] | 1,802 | [1] | ||
Liabilities | ||||||
Accounts payable and accrued expenses | 102 | [1] | 106 | [1] | ||
Deferred income | 8 | [1] | 8 | [1] | ||
Current debt | 21 | [1] | 21 | [1] | ||
Total current liabilities | 131 | [1] | 135 | [1] | ||
Long-term debt | 60 | [1] | 71 | [1] | ||
Other noncurrent liabilities | 105 | [1] | 110 | [1] | ||
Total liabilities | 296 | [1] | 316 | [1] | ||
Variable Interest Entity, Primary Beneficiary [Member] | MP Mask Technology Center, LLC [Member] | ||||||
Assets | ||||||
Total current assets | 21 | [1] | 24 | [1] | ||
Noncurrent assets (primarily property, plant and equipment) | 194 | [1] | 203 | [1] | ||
Liabilities | ||||||
Total current liabilities | 34 | [1] | 28 | [1] | ||
Noncurrent Liabilities | $0 | [1] | $14 | [1] | ||
[1] | Amounts exclude intercompany balances that were eliminated in our consolidated balance sheets. |
Fair_Value_Measurements_Assets
Fair Value Measurements - Assets measured (Details) (Certificates of deposit [Member], Level 2 [Member], Other Noncurrent Assets [Member], USD $) | Mar. 05, 2015 | Aug. 28, 2014 |
In Millions, unless otherwise specified | ||
Certificates of deposit [Member] | Level 2 [Member] | Other Noncurrent Assets [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Financial Statement Captions [Line Items] | ||
Restricted cash | $24 | $27 |
Fair_Value_Measurements_Fair_a
Fair Value Measurements - Fair and Carrying Value (Details) (USD $) | Mar. 05, 2015 | Aug. 28, 2014 |
In Millions, unless otherwise specified | ||
Fair value disclosure [Line Items] | ||
Debt | $6,718 | $6,593 |
Carrying Value [Member] | Convertible Notes [Member] | ||
Fair value disclosure [Line Items] | ||
Debt | 1,764 | 2,143 |
Carrying Value [Member] | Notes and MMJ creditor installment payments | ||
Fair value disclosure [Line Items] | ||
Debt | 4,009 | 3,539 |
Fair Value [Member] | Level 2 [Member] | Convertible Notes [Member] | ||
Fair value disclosure [Line Items] | ||
Convertible notes | 4,761 | 5,886 |
Fair Value [Member] | Level 2 [Member] | Notes and MMJ creditor installment payments | ||
Fair value disclosure [Line Items] | ||
Notes and MMJ creditor installment payments | $4,136 | $3,634 |
Derivative_Instruments_Fair_Va
Derivative Instruments - Fair Values (Details) | 6 Months Ended | 3 Months Ended | 6 Months Ended | 6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Aug. 28, 2014 | Mar. 05, 2015 | Aug. 28, 2014 | Mar. 05, 2015 | Aug. 28, 2014 | Mar. 05, 2015 | Mar. 05, 2015 | Aug. 28, 2014 | Mar. 05, 2015 | Aug. 28, 2014 | Dec. 04, 2014 | Nov. 28, 2014 | Mar. 05, 2015 | Mar. 05, 2015 | Aug. 28, 2014 | Mar. 05, 2015 | Mar. 05, 2015 | Aug. 28, 2014 | Mar. 05, 2015 | Aug. 28, 2014 | Mar. 05, 2015 | Mar. 05, 2015 | Aug. 28, 2014 | Mar. 05, 2015 | Aug. 28, 2014 | Aug. 28, 2014 | Aug. 28, 2014 | Aug. 28, 2014 | Mar. 05, 2015 | Mar. 05, 2015 | Aug. 28, 2014 | Mar. 05, 2015 | Aug. 28, 2014 | Mar. 05, 2015 | Mar. 05, 2015 | Aug. 28, 2014 | Mar. 05, 2015 | Aug. 28, 2014 | Aug. 28, 2014 | Mar. 05, 2015 | Aug. 28, 2014 | Mar. 05, 2015 | Aug. 28, 2014 | Aug. 28, 2014 | Mar. 05, 2015 | Aug. 28, 2014 | Mar. 05, 2015 | Aug. 28, 2014 | Aug. 28, 2014 | |||||||||||||||||||||||||||||||||||||||||
USD ($) | USD ($) | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | ||||||||||||||||||||||||||||||||||||||||||
Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Convertible notes settlement obligations [Member] | Convertible notes settlement obligations [Member] | Accounts Payable and Accrued Expenses [Member] | Accounts Payable and Accrued Expenses [Member] | Accounts Payable and Accrued Expenses [Member] | Accounts Payable and Accrued Expenses [Member] | Accounts Payable and Accrued Expenses [Member] | Accounts Payable and Accrued Expenses [Member] | Accounts Payable and Accrued Expenses [Member] | Accounts Payable and Accrued Expenses [Member] | Accounts Payable and Accrued Expenses [Member] | Accounts Payable and Accrued Expenses [Member] | Current Debt [Member] | Total Current Liabilities [Member] | Other noncurrent liabilities [Member] | Other noncurrent liabilities [Member] | Other noncurrent liabilities [Member] | Other noncurrent liabilities [Member] | Other noncurrent liabilities [Member] | Other noncurrent liabilities [Member] | Other noncurrent liabilities [Member] | Other noncurrent liabilities [Member] | Other noncurrent liabilities [Member] | Other noncurrent liabilities [Member] | Other noncurrent liabilities [Member] | Other noncurrent liabilities [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | ||||||||||||||||||||||||||||||||||||||||||||
USD ($) | USD ($) | Yen | Yen | Singapore dollar | Singapore dollar | New Taiwan dollar | Euro | Euro | Shekel | Shekel | Reorganization obligation [Member] | Reorganization obligation [Member] | Less Than One Year From Balance Sheet Date [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Convertible notes settlement obligations [Member] | USD ($) | USD ($) | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Convertible notes settlement obligations [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Accounts Payable and Accrued Expenses [Member] | Accounts Payable and Accrued Expenses [Member] | Accounts Payable and Accrued Expenses [Member] | Accounts Payable and Accrued Expenses [Member] | Accounts Payable and Accrued Expenses [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Yen | Reorganization obligation [Member] | USD ($) | Yen | Yen | Singapore dollar | Singapore dollar | New Taiwan dollar | Euro | Euro | Shekel | Shekel | USD ($) | USD ($) | Yen | Yen | Singapore dollar | Singapore dollar | New Taiwan dollar | Euro | Euro | Shekel | Shekel | USD ($) | USD ($) | USD ($) | Yen | Yen | Euro | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | Forward Contracts [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||
JPY (¥) | Yen | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Yen | Yen | Euro | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
JPY (¥) | USD ($) | USD ($) | USD ($) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notional Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notional Amount Outstanding | $622 | [1] | $1,191 | [1] | $106 | [1] | $554 | [1] | $295 | [1] | $330 | [1] | $84 | [1] | $78 | [1] | $245 | [1] | $59 | [1] | $62 | [1] | ¥ 20,000 | ¥ 10,000 | $32 | $118 | $32 | $94 | $24 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative, Nonmonetary Notional Amount | 12 | [1] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments for Derivative and Hedge Investing Activities | 88 | 24 | 33 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative, Fair Value, Net [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value of Liability | ($23) | [2] | ($19) | [2] | ($12) | [2] | ($2) | [2] | $0 | [2] | $0 | [2] | ($1) | [2] | ($1) | [2] | ($1) | [2] | ($1) | [2] | ($389) | [2] | ($403) | [2] | ($6) | [3] | $0 | [3] | $0 | [3] | ($6) | [3] | $0 | [3] | $0 | [3] | $0 | [3] | $0 | [3] | $0 | [3] | $0 | [3] | $0 | [3] | $0 | [3] | $0 | [4] | ($2) | [4] | $0 | [4] | ($2) | [4] | $0 | [4] | |||||||||||||||||||||||||||||||||||
Foreign Currency Cash Flow Hedges [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
General maturity of non-designated currency forward contracts (in days) | 35 days | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
General maturity of hedge contracts (in days or months) | 12 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible notes settlement obligations derivative term (in days) | 30 days | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | Notional amounts of forward contracts in U.S. dollars and convertible notes settlement obligations in shares. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Included in accounts payable and accrued expenses for forward contracts and in current debt for convertible notes settlement obligations. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Included in other noncurrent liabilities. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | Included in accounts payable and accrued expenses. |
Derivative_Instruments_Hedging
Derivative Instruments - Hedging Relationship (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $5 | $5 | ||
Not Designated as Hedging Instrument [Member] | Other Non-Operating Income Expense Net [Member] | Foreign Exchange Contract [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Net gains (losses) for derivative instruments without hedge accounting designation | -15 | -7 | -73 | -21 |
Not Designated as Hedging Instrument [Member] | Other Non-Operating Income Expense Net [Member] | Convertible notes settlement obligations [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Net gains (losses) for derivative instruments without hedge accounting designation | 0 | -15 | 6 | -52 |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | 2 | 4 | ||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Comprehensive Income [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income, Effective Portion | ($15) | ($2) |
Equity_Plans_Share_Based_Compe
Equity Plans - Share Based Compensation (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares of common stock reserved for issuance for stock options and restricted stock awards (in shares) | 143 | 143 | ||
Number of shares available for future awards (in shares) | 81 | 81 | ||
Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ||||
Number of shares granted (in shares) | 7 | 9 | 8 | 11 |
Weighted-average grant-date fair values per share of options granted during period (in dollars per share) | $15.34 | $9.58 | $14.96 | $9.17 |
Average expected life (in years) | 5 years 7 months | 4 years 9 months | 5 years 7 months | 4 years 9 months |
Weighted-average expected volatility (in hundredths) | 44.00% | 46.00% | 45.00% | 47.00% |
Weighted-average risk-free interest rate (in hundredths) | 1.70% | 1.60% | 1.70% | 1.60% |
Restricted Stock Awards [Member] | ||||
Restricted Stock Awards activity | ||||
Number of restricted awards - Outstanding (in shares) | 14 | 14 | ||
Restricted stock awards granted (in shares) | 4 | 4 | 6 | 6 |
Weighted-average grant-date fair values per share (in dollars per share) | $35.85 | $23.24 | $34.33 | $21.22 |
Restricted Stock Awards [Member] | Service-based awards [Member] | Share-based Compensation Award, Tranche One [Member] | ||||
Restricted Stock Awards activity | ||||
Restricted stock award vesting percentage (in hundredths) | 25.00% | |||
Restricted Stock Awards [Member] | Performance-based awards [Member] | ||||
Restricted Stock Awards activity | ||||
Number of restricted awards - Outstanding (in shares) | 1 | 1 | ||
Restricted Stock Awards [Member] | Performance-based awards [Member] | Minimum [Member] | Share-based Compensation Award, Tranche One [Member] | ||||
Restricted Stock Awards activity | ||||
Restricted stock award vesting percentage (in hundredths) | 0.00% | |||
Restricted Stock Awards [Member] | Performance-based awards [Member] | Maximum [Member] | Share-based Compensation Award, Tranche One [Member] | ||||
Restricted Stock Awards activity | ||||
Restricted stock award vesting percentage (in hundredths) | 200.00% | |||
Restricted Stock Awards [Member] | Performance-based awards [Member] | Restricted Stock Awards With Performance Condition [Member] | Share-based Compensation Award, Tranche One [Member] | ||||
Restricted Stock Awards activity | ||||
Performance-based award performance period (in years) | 3 years | |||
Restricted Stock Awards [Member] | Performance-based awards [Member] | Restricted Stock Awards With Market Condition [Member] | Share-based Compensation Award, Tranche One [Member] | ||||
Restricted Stock Awards activity | ||||
Performance-based award performance period (in years) | 3 years |
Equity_Plans_Stockbased_compen
Equity Plans - Stock-based compensation expense (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation | $49 | $27 | $84 | $49 |
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract] | ||||
Total unrecognized compensation costs, net of estimated forfeitures, related to non-vested awards expected to be recognized | 468 | 468 | ||
Weighted average period that unrecognized compensation costs is expected to be recognized (in years) | 1 year 6 months | |||
Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation | 23 | 14 | 41 | 28 |
Restricted Stock Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation | 26 | 13 | 43 | 21 |
Cost of Goods Sold [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation | 19 | 8 | 31 | 15 |
Selling, General and Administrative Expenses [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation | 18 | 13 | 33 | 24 |
Research and Development [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation | $12 | $6 | $20 | $10 |
Other_Operating_Income_Expense2
Other Operating (Income) Expense, Net (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 |
Component Of Operating Other Income And Expense Net [Line Items] | ||||
(Gain) loss on disposition of property, plant and equipment | ($4) | $1 | ($10) | $9 |
Rambus settlement | 0 | 0 | 0 | 233 |
Other | -12 | 12 | -22 | 5 |
Other operating (income) expense, net | -16 | 13 | -32 | 247 |
Rambus Settlement [Member] | ||||
Component Of Operating Other Income And Expense Net [Line Items] | ||||
Rambus settlement | $233 |
Other_NonOperating_Income_Expe2
Other Non-Operating Income (Expense), Net (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 |
Component of Other Non-Operating Income (Expense), Net [Line Items] | ||||
Loss on restructure of debt | $0 | ($80) | ($30) | ($155) |
Gain (loss) from changes in currency exchange rates | -6 | -14 | -27 | -20 |
Adjustment to gain on MMJ Acquisition | 0 | -33 | 0 | -33 |
Other | 0 | 5 | 2 | 6 |
Other non-operating income (expense), net | ($6) | ($122) | ($55) | ($202) |
Income_Taxes_Details_1
Income Taxes (Details 1) (MMJ Group [Member], USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 |
MMJ Group [Member] | ||||
Deferred [Abstract] | ||||
Deferred foreign income tax provision | $33 | $55 | $71 | $128 |
Income_Taxes_Unrecognized_tax_
Income Taxes Unrecognized tax benefits (Details 2) (Scenario, Forecast [Member], USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 03, 2015 |
Scenario, Forecast [Member] | |
Income Tax Contingency [Line Items] | |
Estimated potential increase in unrecognized tax benefits primarily due to transfer pricing matters | $150 |
Income_Taxes_Income_Taxes_Esti
Income Taxes Income Taxes - Estimated Potential Changes to Unrecognized Tax Benefits (Details 3) (USD $) | Mar. 05, 2015 |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | |
Estimated potential reduction in our unrecognized tax benefits in the next 12 months, lower bound | $0 |
Estimated potential reduction in our unrecognized tax benefits in the next 12 months, upper bound | $65,000,000 |
Income_Taxes_Income_Tax_Holida
Income Taxes Income Tax Holiday (Details 4) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 |
Income Tax Holiday [Line Items] | ||||
Reduction to our tax provision due to tax incentive arrangements | $97 | $68 | $237 | $144 |
Benefit to our diluted earnings per share due to tax incentive arrangements (in dollars per share) | $0.08 | $0.06 | $0.20 | $0.12 |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 |
Earnings Per Share Reconciliation [Abstract] | ||||
Net income available to Micron shareholders b Basic | $934 | $731 | $1,937 | $1,089 |
Dilutive effect related to equity method investment | -2 | 0 | -3 | 0 |
Net income available to Micron shareholders b Diluted | $932 | $731 | $1,934 | $1,089 |
Weighted Average Number of Shares Outstanding Reconciliation [Abstract] | ||||
Weighted-average common shares outstanding - Basic (in shares) | 1,074 | 1,060 | 1,072 | 1,053 |
Dilutive effect of equity plans and convertible notes (in shares) | 116 | 141 | 121 | 146 |
Weighted-average common shares outstanding - Diluted (in shares) | 1,190 | 1,201 | 1,193 | 1,199 |
Earnings Per Share, Basic [Abstract] | ||||
Basic (in dollars per share) | $0.87 | $0.69 | $1.81 | $1.03 |
Earnings Per Share, Diluted [Abstract] | ||||
Diluted (in dollars per share) | $0.78 | $0.61 | $1.62 | $0.91 |
Earnings_Per_Share_Earnings_Pe
Earnings Per Share Earnings Per Share - Potential Common Shares Excluded in the Computation of Diluted Earnings Per Share Because They Would Have Been Antidilutive (Details) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 |
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) | 18 | 45 | 14 | 41 |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Mar. 05, 2015 | Feb. 27, 2014 | Mar. 05, 2015 | Feb. 27, 2014 |
Segment Reporting Information [Line Items] | ||||
Net sales | $4,166 | $4,107 | $8,739 | $8,149 |
Operating income (loss) | 855 | 869 | 1,940 | 1,420 |
Operating Segments [Member] | CNBU [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net sales | 1,822 | 1,835 | 3,910 | 3,579 |
Operating income (loss) | 493 | 504 | 1,116 | 931 |
Operating Segments [Member] | SBU [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net sales | 954 | 901 | 1,938 | 1,706 |
Operating income (loss) | -36 | 79 | -10 | 173 |
Operating Segments [Member] | MBU [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net sales | 856 | 908 | 1,796 | 1,960 |
Operating income (loss) | 262 | 178 | 568 | 344 |
Operating Segments [Member] | EBU [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net sales | 502 | 422 | 1,041 | 831 |
Operating income (loss) | 115 | 80 | 233 | 158 |
Operating Segments [Member] | All Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net sales | 32 | 41 | 54 | 73 |
Operating income (loss) | 21 | 28 | 33 | 47 |
Unallocated [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Operating income (loss) | $0 | $0 | $0 | ($233) |