Document and Entity Information
Document and Entity Information Document - shares | 9 Months Ended | |
Jun. 04, 2015 | Jul. 06, 2015 | |
Entity Information [Line Items] | ||
Entity Registrant Name | MICRON TECHNOLOGY INC | |
Entity Central Index Key | 723,125 | |
Current Fiscal Year End Date | --09-03 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Jun. 4, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 1,083,435,628 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 04, 2015 | May. 29, 2014 | Jun. 04, 2015 | May. 29, 2014 | |
Income Statement [Abstract] | ||||
Net sales | $ 3,853 | $ 3,982 | $ 12,592 | $ 12,131 |
Cost of goods sold | 2,651 | 2,614 | 8,347 | 8,079 |
Gross margin | 1,202 | 1,368 | 4,245 | 4,052 |
Selling, general and administrative | 169 | 174 | 549 | 527 |
Research and development | 406 | 349 | 1,161 | 1,013 |
Other operating (income) expense, net | (4) | 6 | (36) | 253 |
Operating income | 631 | 839 | 2,571 | 2,259 |
Interest income | 9 | 5 | 24 | 16 |
Interest expense | (97) | (80) | (270) | (264) |
Other non-operating income (expense), net | (16) | (21) | (71) | (223) |
Income before income taxes, net (income) loss attributable to noncontrolling interests and equity in net income of equity method investees: | 527 | 743 | 2,254 | 1,788 |
Income tax (provision) benefit | (104) | (72) | (226) | (215) |
Equity in net income of equity method investees | 68 | 135 | 400 | 355 |
Net income | 491 | 806 | 2,428 | 1,928 |
Net (income) loss attributable to noncontrolling interests | 0 | 0 | 0 | (33) |
Net income attributable to Micron | $ 491 | $ 806 | $ 2,428 | $ 1,895 |
Earnings per share: | ||||
Basic (in dollars per share) | $ 0.46 | $ 0.76 | $ 2.26 | $ 1.79 |
Diluted (in dollars per share) | $ 0.42 | $ 0.68 | $ 2.05 | $ 1.58 |
Number of shares used in per share calculations: | ||||
Basic (in shares) | 1,073 | 1,067 | 1,072 | 1,058 |
Diluted (in shares) | 1,170 | 1,190 | 1,185 | 1,196 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 04, 2015 | May. 29, 2014 | Jun. 04, 2015 | May. 29, 2014 | |
Net income | $ 491 | $ 806 | $ 2,428 | $ 1,928 |
Other comprehensive income (loss), net of tax | ||||
Foreign currency translation adjustments | 17 | (13) | (57) | (17) |
Pension liability adjustments | 1 | 0 | 19 | 2 |
Gain (loss) on investments, net | (2) | 0 | (3) | 2 |
Gain (loss) on derivatives, net | (1) | (2) | (19) | (6) |
Other comprehensive income (loss) | 15 | (15) | (60) | (19) |
Total comprehensive income | 506 | 791 | 2,368 | 1,909 |
Comprehensive (income) loss attributable to noncontrolling interests | 0 | 0 | 1 | (33) |
Comprehensive income attributable to Micron | $ 506 | $ 791 | $ 2,369 | $ 1,876 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions | Jun. 04, 2015 | Aug. 28, 2014 | |
Assets | |||
Cash and equivalents | $ 3,694 | $ 4,150 | |
Short-term investments | 1,166 | 384 | |
Receivables | 2,530 | 2,906 | |
Inventories | 2,381 | 2,455 | |
Other current assets | 237 | 350 | |
Total current assets | 10,008 | 10,245 | |
Long-term marketable investments | [1] | 2,470 | 819 |
Property, plant and equipment, net | 9,857 | 8,682 | |
Equity method investments | 1,324 | 971 | |
Intangible assets, net | 431 | 468 | |
Deferred tax assets | 553 | 816 | |
Other noncurrent assets | 493 | 497 | |
Total assets | 25,136 | 22,498 | |
Liabilities and equity | |||
Accounts payable and accrued expenses | 3,204 | 2,864 | |
Deferred income | 214 | 309 | |
Current debt | 1,148 | 1,638 | |
Total current liabilities | 4,566 | 4,811 | |
Long-term debt | 6,403 | 4,955 | |
Other noncurrent liabilities | 764 | 1,102 | |
Total liabilities | $ 11,733 | $ 10,868 | |
Commitments and contingencies | |||
Redeemable convertible notes | $ 48 | $ 57 | |
Micron shareholders' equity: | |||
Common stock, $0.10 par value, 3,000 shares authorized, 1,083 shares issued and outstanding (1,073 as of August 28, 2014) | 108 | 107 | |
Additional capital | 7,428 | 7,879 | |
Retained earnings | 5,117 | 2,729 | |
Treasury stock | (192) | 0 | |
Accumulated other comprehensive income (loss) | (3) | 56 | |
Total Micron shareholders' equity | 12,458 | 10,771 | |
Noncontrolling interests in subsidiaries | 897 | 802 | |
Total equity | 13,355 | 11,573 | |
Total liabilities and equity | $ 25,136 | $ 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) - $ / shares shares in Millions | Jun. 04, 2015 | Aug. 28, 2014 |
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) | 1,083 | 1,073 |
Common Stock, outstanding (in shares) | 1,083 | 1,073 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions | 9 Months Ended | |
Jun. 04, 2015 | May. 29, 2014 | |
Cash flows from operating activities | ||
Net income | $ 2,428 | $ 1,928 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation expense and amortization of intangible assets | 1,957 | 1,550 |
Amortization of debt discount and other costs | 105 | 130 |
Stock-based compensation | 127 | 81 |
Loss on restructure of debt | 48 | 182 |
Equity in net income of equity method investees | (400) | (355) |
Change in operating assets and liabilities: | ||
Receivables | 337 | (330) |
Inventories | 75 | 117 |
Accounts payable and accrued expenses | (533) | 646 |
Other noncurrent liabilities | (8) | 185 |
Deferred income taxes, net | 248 | 184 |
Other | (206) | 34 |
Net cash provided by operating activities | 4,178 | 4,352 |
Cash flows from investing activities | ||
Purchases of available-for-sale securities | (3,809) | (475) |
Expenditures for property, plant and equipment | (2,256) | (1,800) |
Payments to settle hedging activities | (94) | (25) |
Proceeds from sales and maturities of available-for-sale securities | 1,386 | 442 |
Decrease in restricted cash | 0 | 559 |
Other | 51 | 95 |
Net cash provided by (used for) investing activities | (4,722) | (1,204) |
Cash flows from financing activities | ||
Proceeds from issuance of debt | 2,172 | 1,062 |
Proceeds from sale-leaseback transactions | 291 | 14 |
Proceeds from issuance of stock under equity plans | 64 | 247 |
Repayments of debt | (2,051) | (3,134) |
Cash paid to acquire treasury stock | (245) | (75) |
Other | (16) | (67) |
Net cash provided by (used for) financing activities | 215 | (1,953) |
Effect of changes in currency exchange rates on cash and equivalents | (127) | (13) |
Net increase (decrease) in cash and equivalents | (456) | 1,182 |
Cash and equivalents at beginning of period | 4,150 | 2,880 |
Cash and equivalents at end of period | 3,694 | 4,062 |
Noncash investing and financing activities | ||
Exchange of convertible notes | 0 | 756 |
Acquisition of noncontrolling interest | $ 0 | $ 127 |
Business and Basis of Presentat
Business and Basis of Presentation | 9 Months Ended |
Jun. 04, 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 MTI 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 third quarter and first nine months of 2015, which ended on June 4, 2015 , contained 13 weeks and 40 weeks, respectively. Fiscal year 2014 contained 52 weeks and the third quarter and first nine months of 2014, which ended on May 29, 2014 , contained 13 weeks and 39 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 | 9 Months Ended |
Jun. 04, 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 VIEs 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 VIEs IMFT: IMFT is a VIE because all of its costs are passed to us and its other member, Intel, through product purchase agreements and because IMFT is dependent upon us or Intel for additional cash requirements. The primary activities of IMFT are driven by the constant introduction of product and process technology. Because we perform a significant majority of the technology development, we have the power to direct its key activities. In addition, IMFT manufactures certain products exclusively for us using our 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 Stan
Recently Issued Accounting Standards | 9 Months Ended |
Jun. 04, 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") 2015-05 – Customer's Accounting for Fees Paid in a Cloud Computing Arrangement , which provides additional guidance to customers about whether a cloud computing arrangement includes a software license. Under ASU 2015-05, if a software cloud computing arrangement contains a software license, customers should account for the license element of the arrangement in a manner consistent with the acquisition of other software licenses. If the arrangement does not contain a software license, customers should account for the arrangement as a service contract. ASU 2015-05 also removes the requirement to analogize to ASC 840-10 – Leases to determine the asset acquired in a software licensing arrangement. 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 April 2015, the FASB issued 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 | 9 Months Ended |
Jun. 04, 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: June 4, 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 $ 1,727 $ — $ — $ 1,727 $ 2,445 $ — $ — $ 2,445 Level 1 (1) Money market funds 1,371 — — 1,371 1,281 — — 1,281 Marketable equity securities — — — — — — 1 1 1,371 — — 1,371 1,281 — 1 1,282 Level 2 (2) Corporate bonds 9 558 1,350 1,917 — 154 407 561 Government securities 192 160 435 787 — 136 284 420 Asset-backed securities — 5 651 656 — 1 127 128 Commercial paper 184 397 — 581 22 85 — 107 Certificates of deposit 211 46 34 291 402 8 — 410 596 1,166 2,470 4,232 424 384 818 1,626 $ 3,694 $ 1,166 $ 2,470 $ 7,330 $ 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 measured using information obtained from pricing services, which obtain quoted market prices for similar instruments, non-binding market consensus prices that are corroborated by observable market data, or various other methodologies, to determine the appropriate value at the measurement date. We perform supplemental analysis to validate information obtained from these pricing services. As of June 4, 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 $562 million and $938 million for the third quarter and first nine months of 2015 , respectively, and $78 million and $301 million for the third quarter and first nine months of 2014 , respectively. Gross realized gains and losses for the third quarter and first nine months of 2015 and 2014 were not significant. As of June 4, 2015 , none of our available-for-sale securities had been in a loss position for longer than 12 months. |
Receivables
Receivables | 9 Months Ended |
Jun. 04, 2015 | |
Receivables [Abstract] | |
Receivables | Receivables June 4, August 28, Trade receivables, net $ 2,261 $ 2,524 Income and other taxes 81 104 Other 188 278 $ 2,530 $ 2,906 As of June 4, 2015 and August 28, 2014 , other receivables included $64 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 | 9 Months Ended |
Jun. 04, 2015 | |
Inventory Disclosure [Abstract] | |
Inventories | Inventories June 4, August 28, Finished goods $ 774 $ 898 Work in process 1,364 1,372 Raw materials and supplies 243 185 $ 2,381 $ 2,455 |
Property, Plant and Equipment
Property, Plant and Equipment | 9 Months Ended |
Jun. 04, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | Property, Plant and Equipment August 28, 2014 Additions Retirements and Other June 4, Land $ 86 $ 2 $ — $ 88 Buildings 5,093 174 (2 ) 5,265 Equipment (1) 17,781 2,718 (445 ) 20,054 Construction in progress (2) 114 136 (1 ) 249 Software 358 23 (23 ) 358 23,432 3,053 (471 ) 26,014 Accumulated depreciation (14,750 ) (1,868 ) 461 (16,157 ) $ 8,682 $ 1,185 $ (10 ) $ 9,857 (1) Included costs related to equipment not placed into service of $1.07 billion and $826 million , as of June 4, 2015 and August 28, 2014, respectively. (2) Included building-related construction and tool installation costs on assets not placed into service. Depreciation expense was $644 million and $1.87 billion for the third quarter and first nine months of 2015 , respectively, and $508 million and $1.46 billion for the third quarter and first nine months of 2014 , respectively. |
Equity Method Investments
Equity Method Investments | 9 Months Ended |
Jun. 04, 2015 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments | Equity Method Investments June 4, 2015 August 28, 2014 Investment Balance Ownership Percentage Investment Balance Ownership Percentage Inotera (1) $ 1,273 33 % $ 914 33 % Tera Probe 35 40 % 48 40 % Other 16 Various 9 Various $ 1,324 $ 971 (1) Entity is a variable interest entity. As of June 4, 2015 , substantially all of our maximum exposure to loss from our VIEs that were not consolidated was the $1.27 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 first nine months of 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 Nine Months Ended June 4, May 29, June 4, May 29, Inotera $ 67 $ 134 $ 402 $ 349 Tera Probe 3 2 (3 ) 8 Other (2 ) (1 ) 1 (2 ) $ 68 $ 135 $ 400 $ 355 Inotera We have partnered with Nanya in Inotera, a Taiwan DRAM memory company, since 2009. As of June 4, 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 June 4, 2015 , the market value of our equity interest in Inotera was $2.26 billion based on the closing trading price in an active market of 32.40 New Taiwan dollars per share. As of June 4, 2015 and August 28, 2014 , there were losses of $2 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 prices reflecting discounts 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 during the wind-down period. Our share of Inotera's capacity would decline over the wind-down period. In the first nine 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 $533 million and $1.89 billion of DRAM products from Inotera in the third quarter and first nine months of 2015, respectively, and $700 million and $2.00 billion in the third quarter and first nine 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 June 4, 2015 , the market value of our equity interest in Tera Probe was $45 million based on the closing trading price in an active market of 1,528 yen per share. 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 June 4, 2015 , the difference between our investment balance and our proportionate share of underlying equity in Tera Probe was $29 million and is accreted as income to our earnings through equity in net income of equity method investees over a weighted-average period of seven years. We incurred manufacturing costs for services performed by Tera Probe of $19 million and $66 million for the third quarter and first nine months of 2015, respectively, and $24 million and $88 million for the third quarter and first nine months of 2014, respectively. |
Intangible Assets
Intangible Assets | 9 Months Ended |
Jun. 04, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | Intangible Assets June 4, 2015 August 28, 2014 Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization Product and process technology $ 834 $ (404 ) $ 809 $ (341 ) Other 2 (1 ) 1 (1 ) $ 836 $ (405 ) $ 810 $ (342 ) During the first nine months of 2015 and 2014 , we capitalized $51 million and $29 million , respectively, for product and process technology with weighted-average useful lives of seven years and ten years, respectively. Amortization expense was $29 million and $89 million for the third quarter and first nine months of 2015 , respectively, and $34 million and $88 million for the third quarter and first nine months of 2014 , respectively. Annual amortization expense is estimated to be $117 million for 2015 , $107 million for 2016 , $95 million for 2017 , $83 million for 2018 and $35 million for 2019 . |
Accounts Payable and Accrued Ex
Accounts Payable and Accrued Expenses | 9 Months Ended |
Jun. 04, 2015 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Liabilities Disclosure | Accounts Payable and Accrued Expenses June 4, August 28, Accounts payable $ 1,000 $ 996 Property, plant and equipment payables 1,018 289 Related party payables 387 673 Salaries, wages and benefits 340 456 Income and other taxes 82 71 Customer advances 79 98 Other 298 281 $ 3,204 $ 2,864 As of June 4, 2015 and August 28, 2014 , related party payables included $378 million and $660 million , respectively, due to Inotera primarily for the purchase of DRAM products. As of June 4, 2015 and August 28, 2014 , related party payables also included $9 million and $13 million , respectively, due to Tera Probe for testing and probe services performed. (See "Equity Method Investments" note.) As of June 4, 2015 and August 28, 2014 , customer advances included $60 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 August 28, 2014 , other noncurrent liabilities included $90 million from this DRAM supply agreement. |
Debt
Debt | 9 Months Ended |
Jun. 04, 2015 | |
Debt Disclosure [Abstract] | |
Debt | Debt June 4, 2015 August 28, 2014 Instrument (1) Stated Rate Effective Rate Current Long-Term Total Current Long-Term Total Capital lease obligations (2) N/A N/A $ 325 $ 530 $ 855 $ 323 $ 588 $ 911 MMJ creditor installment payments N/A 6.25 % 154 669 823 192 939 1,131 1.258% 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 5.250 % 5.43 % — 1,000 1,000 — — — 2024 senior notes 5.250 % 5.38 % — 550 550 — — — 2025 senior notes 5.500 % 5.56 % — 1,150 1,150 — 1,150 1,150 2026 senior notes 5.625 % 5.73 % — 450 450 — — — 2031B convertible senior notes 1.875 % 6.98 % — — — 362 — 362 2032C convertible senior notes (3) 2.375 % 5.95 % — 198 198 — 314 314 2032D convertible senior notes (3) 3.125 % 6.33 % — 151 151 — 288 288 2033E convertible senior notes (3) 1.625 % 4.50 % 276 — 276 278 — 278 2033F convertible senior notes (3) 2.125 % 4.93 % 270 — 270 265 — 265 2043G convertible senior notes 3.000 % 6.76 % — 646 646 — 636 636 Other notes payable 2.241 % 2.40 % 31 181 212 126 116 242 $ 1,148 $ 6,403 $ 7,551 $ 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 3.8% and 4.3% as of June 4, 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 March 31, 2015 exceeded 130% of the conversion price per share, holders had the right to convert their notes at any time during the calendar quarter ended June 30, 2015. The closing price of our common stock also exceeded the thresholds for the calendar quarter ended June 30, 2015; therefore, these notes are convertible by the holders through September 30, 2015. The 2033 Notes are classified as current because the terms of these notes require us to pay cash for the principal amount of any converted notes. 2015 Debt Activity In the first nine months of 2015, we consummated a number of transactions with respect to our debt, including conversions and settlements, repurchases, the issuances of non-convertible senior notes, and the early repayment of a note. As a result, we recognized losses of $18 million and $48 million in the third quarter and first nine months of 2015, respectively. The following table presents the effect of each of the actions in the first nine months of 2015: 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 (7 ) (7 ) (19 ) (15 ) 2 (121 ) (369 ) (408 ) (15 ) (22 ) Repurchases: 2032C Notes (139 ) (122 ) (415 ) (283 ) (10 ) 2032D Notes (166 ) (141 ) (492 ) (341 ) (11 ) (305 ) (263 ) (907 ) (624 ) (21 ) Issuances: 2023 Notes 1,000 1,000 988 — — 2024 Notes 550 550 545 — — 2026 Notes 450 450 446 — — 2,000 2,000 1,979 — — Early repayment of note (121 ) (120 ) (122 ) — (5 ) $ 1,453 $ 1,248 $ 542 $ (639 ) $ (48 ) (1) Included in other non-operating expense. Conversions and Settlements : During the first nine 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 – During the first nine months of 2015, holders converted a portion of our 2033E Notes, and we elected to settle the amounts 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 nine months of 2015, we repurchased portions of our 2032C Notes and 2032D Notes. 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 April 30, 2015, we issued $550 million in principal amount of 2024 Notes due January 2024 and $450 million in principal amount of 2026 Notes due January 2026. On February 3, 2015, we issued $1.00 billion in principal amount of 2023 Notes due August 2023. Issuance costs for these notes totaled $21 million . These 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: We have the option to redeem these notes; however, the applicable redemption price will be determined as follows: Redemption Period Requiring Payment of: Redemption Up To 35% Using Cash Proceeds From An Equity Offering (3) : Make-Whole (1) Premium (2) Date Specified Price 2023 Notes Prior to Feb. 1, 2018 On or after Feb. 1, 2018 Prior to Feb. 1, 2018 105.250 % 2024 Notes Prior to May 1, 2018 On or after May 1, 2018 Prior to May 1, 2018 105.250 % 2026 Notes Prior to May 1, 2020 On or after May 1, 2020 Prior to May 1, 2018 105.625 % (1) If we redeem prior to the applicable date, the price is principal plus a make-whole premium equal to the present value of the remaining scheduled interest payments as described in the applicable indenture, together with accrued and unpaid interest. (2) If we redeem on or after the applicable date, the price is principal plus a premium which declines over time as specified in the applicable indenture, together with accrued and unpaid interest. (3) If we redeem prior to the applicable date with net cash proceeds of one or more equity offerings, the price is equal to the amount specified above, together with accrued and unpaid interest, subject to a maximum redemption of 35% of the aggregate principal amount of the respective note being redeemed. 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 nine 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 premium) from the exchange of an aggregate principal amount of $440 million of 2027 Notes, 2031A Notes, and 2031B Notes into 2043G Notes; • $121 million (which included $115 million in non-operating expense and $6 million of interest expense from the payment of a make-whole premium) from the conversion of $770 million of aggregate principal amount of 2014 Notes, 2027 Notes, and 2031A Notes; and • $18 million in non-operating expense from the cash repurchase of $263 million of aggregate principal amount of 2031B Notes, 2032C Notes, and 2032D Notes. Convertible Notes With Debt and Equity Components As of June 4, 2015 , the trading price of our common stock was higher than the conversion prices of our 2032 Notes and our 2033 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 June 4, 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 2019 $ 224 23 $ 9.63 $ 12.52 $ 403 2032D Notes May 2021 177 18 9.98 12.97 302 2033E Notes February 2018 293 27 10.93 14.21 430 2033F Notes February 2020 300 27 10.93 14.21 441 2043G Notes (4) November 2028 1,025 35 29.16 37.91 — $ 2,019 130 $ 1,576 (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 June 30, 2015 for our 2032 Notes and 2033 Notes; therefore, those notes are convertible by the holders through September 30, 2015. (3) Based on our closing share price of $26.99 as of June 4, 2015 . (4) The original principal amount of $820 million accretes up to $917 million at the holder put date 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 third quarter of 2015, we recorded a capital lease obligation of $37 million , which related to an equipment sale-leaseback transaction, at a weighted-average effective interest rate of 2.8% , payable in periodic installments through May 2019. In the first nine months of 2015, we recorded capital lease obligations aggregating $324 million , including $291 million related to equipment sale-leaseback transactions, at a weighted-average effective interest rate of 3.2% , payable in periodic installments through May 2019. Other Notes Payable On March 13, 2015, we borrowed $47 million under a two -year note, collateralized by certain property, plant, and equipment. The note is payable in equal quarterly installments, plus interest at a variable rate equal to the 90 -day Taipei Interbank Offered Rate ("TAIBOR") plus 1.65% per annum. Available Facilities 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. On April 16, 2015, we drew $75 million under this facility at an interest rate equal to 2.15% per annum. As of June 4, 2015 , $75 million of principal was outstanding under this facility and $518 million was available to us to be drawn. 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. On April 16, 2015, we drew $50 million under this facility at an interest rate equal to 1.65% per annum. As of June 4, 2015 , $50 million of principal was outstanding under this facility and $343 million was available to us to be drawn. Other Facilities : On April 14, 2015, our IMFT venture entered into a commitment letter and progress payment agreement to obtain financing collateralized by semiconductor production equipment. Subject to customary conditions, IMFT can draw up to $275 million under these agreements prior to March 31, 2016. Amounts drawn will be made subject to a five -year loan, with equal quarterly payments beginning three months after such amounts are made subject to the loan, which payments reflect an implicit interest rate equal to the three -year swap rate plus 1.64% per annum. As of June 4, 2015 , IMFT had not utilized any amounts under this facility. On May 28, 2015, we entered into a term loan agreement to obtain financing collateralized by certain property, plant, and equipment. Subject to customary conditions, we can draw up to 6.90 billion New Taiwan dollars or an equivalent amount in U.S. dollars (approximately $225 million as of June 4, 2015). As of June 4, 2015 , we had not drawn any amounts under this facility and subsequent to the third quarter of 2015, on June 18, 2015, we drew $40 million under this arrangement. Subsequent draws must occur by December 18, 2015. Amounts drawn will be made subject to a three -year loan, with equal quarterly principal payments beginning six months after the initial draw. Amounts drawn in New Taiwan dollars will accrue interest at a variable rate equal to the three -month TAIBOR plus a margin not to exceed 2.0% . Amounts drawn in U.S. dollars will accrue interest at a variable rate equal to the three -month LIBOR plus a margin not to exceed 2.2% . Contractual Maturities As of June 4, 2015 , debt maturities and future minimum lease payments under capital lease obligations were as follows: Notes Payable Capital Lease Obligations Remainder of 2015 $ 62 $ 83 2016 305 346 2017 270 170 2018 545 129 2019 501 90 2020 and thereafter 5,541 107 Unamortized discounts and interest, respectively (528 ) (70 ) $ 6,696 $ 855 |
Contingencies
Contingencies | 9 Months Ended |
Jun. 04, 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 applicable balance sheet dates, 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 Japan 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 31, 2015. On November 21, 2014, Elm 3DS Innovations, LLC ("Elm") filed a patent infringement action against MTI, Micron Semiconductor Products, Inc., and Micron Consumer Products Group, Inc. in the U.S. District Court for the District of Delaware. On March 27, 2015, Elm filed an amended complaint against the same entities. The amended complaint alleges that unspecified semiconductor products of ours that incorporate multiple stacked die infringe thirteen U.S. patents and seeks damages, attorneys’ fees, and costs. On December 15, 2014, Innovative Memory Solutions, Inc. filed a patent infringement action against 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 DRAM, DDR2 DRAM, DDR3 DRAM, DDR4 DRAM, 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 June 4, 2015, and seeks an order requiring us to re-transfer those shares to the Qimonda estate. The complaint also seeks, among other things, to recover damages for the alleged value of the joint venture relationship with Inotera and to terminate under Sections 103 or 133 of the German Insolvency Code a patent cross-license between us and Qimonda entered into at the same time as the share purchase agreement. Following a series of hearings with pleadings, arguments and witnesses on behalf of the Qimonda estate, on March 13, 2014, the Court issued judgments: (1) ordering Micron B.V. to pay approximately $1 million in respect of certain Inotera shares sold in connection with the original share purchase; (2) ordering Micron B.V. to disclose certain information with respect to any Inotera Shares sold by it to third parties; (3) ordering Micron B.V. to disclose the benefits derived by it from ownership of the Inotera Shares, including in particular, any profits distributed on 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 was held on July 9, 2015 during which an additional hearing was scheduled for September 29, 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 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 June 4, 2015, the Inotera Shares had a carrying value in equity method investments for purposes of our financial reporting of $703 million and a market value of $1.25 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 | 9 Months Ended |
Jun. 04, 2015 | |
Redeemable Convertible Notes [Abstract] | |
Redeemable Convertible Notes [Text Block] | Redeemable Convertible Notes Under the terms of the indentures governing the 2033 Notes, upon conversion, we would be required to pay cash equal to the lesser amount of (1) the aggregate principal amount or (2) the conversion value of the notes being converted. To the extent the conversion value exceeds the principal amount, we could pay cash, shares of common stock, or a combination thereof, at our option, for the amount of such excess. The 2033 Notes were convertible at the option of the holders as of June 4, 2015 and August 28, 2014 . Therefore, the 2033 Notes were classified as current debt and the aggregate difference between the principal amount and the carrying value of $48 million as of June 4, 2015 and $57 million as of August 28, 2014 , was classified as redeemable convertible notes in the mezzanine section of the accompanying consolidated balance sheets. (See "Debt" note.) |
Equity
Equity | 9 Months Ended |
Jun. 04, 2015 | |
Equity [Abstract] | |
Equity | Equity Changes in the components of equity were as follows: Nine Months Ended June 4, 2015 Nine Months Ended May 29, 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 2,428 — 2,428 1,895 33 1,928 Other comprehensive income (loss) (59 ) (1 ) (60 ) (19 ) — (19 ) Comprehensive income (loss) 2,369 (1 ) 2,368 1,876 33 1,909 Contributions from noncontrolling interests — 102 102 — 59 59 Distributions to noncontrolling interests — (6 ) (6 ) — (19 ) (19 ) Acquisition of noncontrolling interests in MMT — — — 34 (180 ) (146 ) Capital and other transactions attributable to Micron (682 ) — (682 ) (1,112 ) — (1,112 ) Ending balance $ 12,458 $ 897 $ 13,355 $ 9,940 $ 757 $ 10,697 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 June 4, 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 7 million shares of our common stock that our employees elected to withhold in the first nine months of 2015 and 2014, respectively, and paid $53 million and $75 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 June 4, 2015 were $3.07 billion for the MMJ Group and $874 million for IMFT, which included cash and equivalents of $1.26 billion for the MMJ Group and $238 million for IMFT. Accumulated Other Comprehensive Income (Loss): Changes in accumulated other comprehensive income (loss) by component for the first nine 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 (57 ) (13 ) (1 ) 32 (39 ) Amount reclassified out of accumulated other comprehensive income — (5 ) (2 ) (2 ) (9 ) Tax effects — — — (11 ) (11 ) Other comprehensive income (loss) (57 ) (18 ) (3 ) 19 (59 ) Balance as of June 4, 2015 $ (15 ) $ (6 ) $ (2 ) $ 20 $ (3 ) Noncontrolling Interests in Subsidiaries June 4, 2015 August 28, 2014 Noncontrolling Interest Balance Noncontrolling Interest Percentage Noncontrolling Interest Balance Noncontrolling Interest Percentage IMFT (1) $ 790 49 % $ 693 49 % MP Mask (1) 93 50 % 93 50 % Other 14 Various 16 Various $ 897 $ 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, in either case, for an amount equal to the noncontrolling interest balance for Intel at that time. 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 $58 million and $158 million for the third quarter and first nine months of 2015 , respectively, and $36 million and $100 million for the third quarter and first nine 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 $101 million and $309 million for the third quarter and first nine months of 2015 , respectively, and $107 million and $312 million for the third quarter and first nine months of 2014 , respectively. Receivables from Intel as of June 4, 2015 and August 28, 2014 , were $62 million and $66 million , respectively for these sales. The following table presents the assets and liabilities of IMFT included in our consolidated balance sheets: June 4, August 28, Assets Cash and equivalents $ 238 $ 84 Receivables 72 73 Inventories 56 48 Other current assets 4 5 Total current assets 370 210 Property, plant and equipment, net 1,686 1,545 Other noncurrent assets 48 47 Total assets $ 2,104 $ 1,802 Liabilities Accounts payable and accrued expenses $ 253 $ 106 Deferred income 9 8 Current debt 21 21 Total current liabilities 283 135 Long-term debt 54 71 Other noncurrent liabilities 103 110 Total liabilities $ 440 $ 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 Nine Months Ended June 4, May 29, June 4, May 29, IMFT distributions to Micron $ — $ — $ 6 $ 10 IMFT distributions to Intel — — 6 10 Micron contributions to IMFT 85 10 106 61 Intel contributions to IMFT 82 10 102 59 MP Mask: In 2006, we formed a joint venture with Photronics to produce photomasks for leading-edge and advanced next-generation semiconductors. On March 24, 2015, we notified Photronics of our election to terminate MP Mask effective in May 2016. Upon termination, we have the right to 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: June 4, August 28, Current assets $ 21 $ 24 Noncurrent assets (primarily property, plant and equipment) 185 203 Current liabilities 24 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 | 9 Months Ended |
Jun. 04, 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 June 4, 2015 and August 28, 2014 , we had certificates of deposit classified as restricted cash (included in other noncurrent assets) of $28 million and $27 million , respectively, valued using Level 2 fair value measurements. In connection with our repurchases of debt in the first nine months 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: June 4, 2015 August 28, 2014 Fair Value Carrying Value Fair Value Carrying Value Notes and MMJ creditor installment payments $ 5,166 $ 5,155 $ 3,634 $ 3,539 Convertible notes 3,747 1,541 5,886 2,143 The fair values of our convertible notes were determined based on inputs that were observable in the market or that could be derived from, or corroborated with, observable market data, including the trading price of our convertible notes, when available, our stock price, and interest rates based on similar debt issued by parties with credit ratings similar to ours (Level 2). The fair value of our other debt instruments was estimated based on discounted cash flows using inputs that were observable in the market or that could be derived from, or corroborated with, observable market data, including the trading price of our notes, when available, and interest rates based on similar debt issued by parties with credit ratings similar to ours (Level 2). |
Derivative Instruments
Derivative Instruments | 9 Months Ended |
Jun. 04, 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 nine months of 2015, holders elected to convert the remaining outstanding 2031B Notes and a portion of the 2033E Notes. In the first nine 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 note settlement obligations were based on the volume-weighted average stock price (Level 2 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 Assets (2) Current Liabilities (3) Noncurrent Liabilities (4) As of June 4, 2015 Currency forward contracts: Yen $ 878 $ — $ (35 ) $ — Singapore dollar 404 — (3 ) — Euro 359 6 (2 ) — New Taiwan dollar 62 — — — Shekel 57 — — — British Pound 19 — — — $ 1,779 $ 6 $ (40 ) $ — As of August 28, 2014 Currency forward contracts: Yen $ 554 $ — $ (12 ) $ (6 ) Singapore dollar 330 — — — 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 receivables – other. (3) Included in accounts payable and accrued expenses for forward contracts and in current debt for convertible notes settlement obligations. (4) 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 Nine Months Ended June 4, May 29, June 4, May 29, Foreign exchange contracts $ (10 ) $ 2 $ (83 ) $ (19 ) Convertible notes settlement obligations 1 (2 ) 7 (54 ) $ (9 ) $ — $ (76 ) $ (73 ) 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 (in U.S. Dollars) Fair Value of Current Liabilities (1) As of June 4, 2015 Yen $ 43 $ (1 ) As of August 28, 2014 Yen $ 94 $ (2 ) Euro 24 — $ 118 $ (2 ) (1) Included in accounts payable and accrued expenses. For the third quarter and first nine months of 2015 , we recognized gains of $1 million and losses of $14 million , respectively, in accumulated other comprehensive income (loss) from the effective portion of cash flow hedges. For the first nine 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 third quarter and first nine months of 2015 and 2014 . In the first nine months of 2015 and 2014 , we reclassified gains of $5 million and $3 million , respectively, from accumulated other comprehensive income (loss) to earnings. As of June 4, 2015 , $4 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 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 sheets on a net basis. As of June 4, 2015 and August 28, 2014, amounts netted were not significant. |
Equity Plans
Equity Plans | 9 Months Ended |
Jun. 04, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Plans | Equity Plans As of June 4, 2015 , our equity plans permit us to issue an aggregate of up to 171 million shares of common stock, of which 111 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 Nine Months Ended June 4, May 29, June 4, May 29, Stock options granted — 1 8 12 Weighted-average grant-date fair value per share $10.89 $11.35 $14.86 $9.38 Average expected life in years 5.6 5.7 5.6 4.9 Weighted-average expected volatility 42 % 52 % 45 % 48 % Weighted-average risk-free interest rate 1.6 % 1.8 % 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 June 4, 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 third quarters and first nine months of 2015 and 2014 are summarized as follows: Quarter Ended Nine Months Ended June 4, May 29, June 4, May 29, Restricted stock awards granted — — 6 7 Weighted-average grant-date fair values per share $ 27.34 $ 22.73 $ 33.93 $ 21.39 Stock-based Compensation Expense Quarter Ended Nine Months Ended June 4, May 29, June 4, May 29, Stock-based compensation expense by caption: Cost of goods sold $ 17 $ 12 $ 48 $ 27 Selling, general and administrative 15 12 48 36 Research and development 11 7 31 17 Other — 1 — 1 $ 43 $ 32 $ 127 $ 81 Stock-based compensation expense by type of award: Stock options $ 20 $ 16 $ 61 $ 44 Restricted stock awards 23 16 66 37 $ 43 $ 32 $ 127 $ 81 As of June 4, 2015 , $432 million of total unrecognized compensation costs, net of estimated forfeitures, related to non-vested awards was expected to be recognized through the third quarter of 2019 , resulting in a weighted-average period of 1.4 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) Expens
Other Operating (Income) Expense, Net | 9 Months Ended |
Jun. 04, 2015 | |
Other Income and Expenses [Abstract] | |
Other Operating (Income) Expense, Net | Other Operating (Income) Expense, Net Quarter Ended Nine Months Ended June 4, May 29, June 4, May 29, (Gain) loss on disposition of property, plant and equipment $ (4 ) $ 2 $ (14 ) $ 11 Rambus settlement — — — 233 Other — 4 (22 ) 9 $ (4 ) $ 6 $ (36 ) $ 253 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 nine months of 2014 included a $233 million charge to accrue a liability, which reflects the discounted value of amounts due under this arrangement. |
Other Non-Operating Income (Exp
Other Non-Operating Income (Expense), Net | 9 Months Ended |
Jun. 04, 2015 | |
Other Nonoperating Income (Expense) [Abstract] | |
Other Non-Operating Income Expense, Net [Text Block] | Other Non-Operating Income (Expense), Net Quarter Ended Nine Months Ended June 4, May 29, June 4, May 29, Loss on restructure of debt $ (18 ) $ (16 ) $ (48 ) $ (171 ) Gain (loss) from changes in currency exchange rates 1 (5 ) (26 ) (25 ) Adjustment to gain on MMJ Acquisition — — — (33 ) Other 1 — 3 6 $ (16 ) $ (21 ) $ (71 ) $ (223 ) |
Income Taxes
Income Taxes | 9 Months Ended |
Jun. 04, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes Income taxes included $22 million and $93 million for the third quarter and first nine months of 2015, respectively, and $49 million and $177 million for the third quarter and first nine months of 2014, respectively, related to the utilization of deferred tax assets by the MMJ Group. Income taxes for the third quarter of 2015 also included $45 million to write down the value of MMJ's deferred tax assets as a result of changes in Japan tax laws that reduced the corporate tax rate for tax years beginning on or after April 1, 2015 and expanded the taxable base with higher limits on future net operating loss deductions. Remaining taxes for the third quarter and first nine 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. 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. The amount of the deferred tax asset considered realizable could be adjusted if significant positive evidence increases. Income taxes on U.S. operations for the third quarter and first nine months of 2015 and 2014 were substantially offset by changes in the valuation allowance. As of June 4, 2015 , we estimate our unrecognized tax benefits may increase for 2015 by approximately $130 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 $70 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 third quarter and first nine months of 2015 by $52 million (benefitting our diluted earnings per share by $0.04 ) and $289 million ( $0.24 per diluted share), respectively. These arrangements reduced our tax provision for the third quarter and first nine months of 2014 by $88 million ( $0.07 per diluted share) and $232 million ( $0.19 per diluted share), respectively. |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Jun. 04, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Quarter Ended Nine Months Ended June 4, May 29, June 4, May 29, Net income available to Micron shareholders – Basic $ 491 $ 806 $ 2,428 $ 1,895 Dilutive effect related to equity method investment (1 ) (1 ) (3 ) (1 ) Net income available to Micron shareholders – Diluted $ 490 $ 805 $ 2,425 $ 1,894 Weighted-average common shares outstanding – Basic 1,073 1,067 1,072 1,058 Dilutive effect of equity plans and convertible notes 97 123 113 138 Weighted-average common shares outstanding – Diluted 1,170 1,190 1,185 1,196 Earnings per share: Basic $ 0.46 $ 0.76 $ 2.26 $ 1.79 Diluted 0.42 0.68 2.05 1.58 Antidilutive potential common shares that could dilute basic earnings per share in the future were 55 million and 27 million for the third quarter and first nine months of 2015, respectively, and 45 million and 43 million for the third quarter and first nine months of 2014, respectively. |
Segment Information
Segment Information | 9 Months Ended |
Jun. 04, 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. Mobile Business Unit ("MBU"): Includes DRAM, NAND Flash, and NOR Flash products sold to the smartphone, feature phone, and tablet mobile-device 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. 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 nine 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 Nine Months Ended June 4, May 29, June 4, May 29, Net sales: CNBU $ 1,514 $ 1,857 $ 5,424 $ 5,436 MBU 938 757 2,734 2,717 SBU 901 867 2,839 2,573 EBU 483 467 1,524 1,298 All Other 17 34 71 107 $ 3,853 $ 3,982 $ 12,592 $ 12,131 Operating income (loss): CNBU $ 266 $ 531 $ 1,382 $ 1,462 MBU 296 135 864 479 SBU (33 ) 55 (43 ) 228 EBU 98 96 331 254 All Other 4 22 37 69 Unallocated — — — (233 ) $ 631 $ 839 $ 2,571 $ 2,259 |
Business and Basis of Present29
Business and Basis of Presentation (Policies) | 9 Months Ended |
Jun. 04, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation | The accompanying financial statements include the accounts of MTI 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 third quarter and first nine months of 2015, which ended on June 4, 2015 , contained 13 weeks and 40 weeks, respectively. Fiscal year 2014 contained 52 weeks and the third quarter and first nine months of 2014, which ended on May 29, 2014 , contained 13 weeks and 39 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) | 9 Months Ended |
Jun. 04, 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. |
Segment Information Segment Inf
Segment Information Segment Information (Policies) | 9 Months Ended |
Jun. 04, 2015 | |
Segment Reporting [Abstract] | |
Segment Information | 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 nine 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. |
Cash and Investments (Tables)
Cash and Investments (Tables) | 9 Months Ended |
Jun. 04, 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: June 4, 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 $ 1,727 $ — $ — $ 1,727 $ 2,445 $ — $ — $ 2,445 Level 1 (1) Money market funds 1,371 — — 1,371 1,281 — — 1,281 Marketable equity securities — — — — — — 1 1 1,371 — — 1,371 1,281 — 1 1,282 Level 2 (2) Corporate bonds 9 558 1,350 1,917 — 154 407 561 Government securities 192 160 435 787 — 136 284 420 Asset-backed securities — 5 651 656 — 1 127 128 Commercial paper 184 397 — 581 22 85 — 107 Certificates of deposit 211 46 34 291 402 8 — 410 596 1,166 2,470 4,232 424 384 818 1,626 $ 3,694 $ 1,166 $ 2,470 $ 7,330 $ 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 measured using information obtained from pricing services, which obtain quoted market prices for similar instruments, non-binding market consensus prices that are corroborated by observable market data, or various other methodologies, to determine the appropriate value at the measurement date. We perform supplemental analysis to validate information obtained from these pricing services. As of June 4, 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) | 9 Months Ended |
Jun. 04, 2015 | |
Receivables [Abstract] | |
Schedule of Receivables | June 4, August 28, Trade receivables, net $ 2,261 $ 2,524 Income and other taxes 81 104 Other 188 278 $ 2,530 $ 2,906 |
Inventories (Tables)
Inventories (Tables) | 9 Months Ended |
Jun. 04, 2015 | |
Inventory Disclosure [Abstract] | |
Schedule Of Inventory | June 4, August 28, Finished goods $ 774 $ 898 Work in process 1,364 1,372 Raw materials and supplies 243 185 $ 2,381 $ 2,455 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 9 Months Ended |
Jun. 04, 2015 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment | August 28, 2014 Additions Retirements and Other June 4, Land $ 86 $ 2 $ — $ 88 Buildings 5,093 174 (2 ) 5,265 Equipment (1) 17,781 2,718 (445 ) 20,054 Construction in progress (2) 114 136 (1 ) 249 Software 358 23 (23 ) 358 23,432 3,053 (471 ) 26,014 Accumulated depreciation (14,750 ) (1,868 ) 461 (16,157 ) $ 8,682 $ 1,185 $ (10 ) $ 9,857 (1) Included costs related to equipment not placed into service of $1.07 billion and $826 million , as of June 4, 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) | 9 Months Ended |
Jun. 04, 2015 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments | June 4, 2015 August 28, 2014 Investment Balance Ownership Percentage Investment Balance Ownership Percentage Inotera (1) $ 1,273 33 % $ 914 33 % Tera Probe 35 40 % 48 40 % Other 16 Various 9 Various $ 1,324 $ 971 (1) Entity is a variable interest entity. As of June 4, 2015 , substantially all of our maximum exposure to loss from our VIEs that were not consolidated was the $1.27 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 first nine months of 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 Nine Months Ended June 4, May 29, June 4, May 29, Inotera $ 67 $ 134 $ 402 $ 349 Tera Probe 3 2 (3 ) 8 Other (2 ) (1 ) 1 (2 ) $ 68 $ 135 $ 400 $ 355 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 9 Months Ended |
Jun. 04, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule Of Finite Lived Intangible Assets By Major Class | June 4, 2015 August 28, 2014 Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization Product and process technology $ 834 $ (404 ) $ 809 $ (341 ) Other 2 (1 ) 1 (1 ) $ 836 $ (405 ) $ 810 $ (342 ) |
Accounts Payable and Accrued 38
Accounts Payable and Accrued Expenses (Tables) | 9 Months Ended |
Jun. 04, 2015 | |
Payables and Accruals [Abstract] | |
Accounts Payable And Accrued Liabilities Schedule | June 4, August 28, Accounts payable $ 1,000 $ 996 Property, plant and equipment payables 1,018 289 Related party payables 387 673 Salaries, wages and benefits 340 456 Income and other taxes 82 71 Customer advances 79 98 Other 298 281 $ 3,204 $ 2,864 |
Debt (Tables)
Debt (Tables) | 9 Months Ended |
Jun. 04, 2015 | |
Debt Instrument [Line Items] | |
Schedule of Debt | June 4, 2015 August 28, 2014 Instrument (1) Stated Rate Effective Rate Current Long-Term Total Current Long-Term Total Capital lease obligations (2) N/A N/A $ 325 $ 530 $ 855 $ 323 $ 588 $ 911 MMJ creditor installment payments N/A 6.25 % 154 669 823 192 939 1,131 1.258% 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 5.250 % 5.43 % — 1,000 1,000 — — — 2024 senior notes 5.250 % 5.38 % — 550 550 — — — 2025 senior notes 5.500 % 5.56 % — 1,150 1,150 — 1,150 1,150 2026 senior notes 5.625 % 5.73 % — 450 450 — — — 2031B convertible senior notes 1.875 % 6.98 % — — — 362 — 362 2032C convertible senior notes (3) 2.375 % 5.95 % — 198 198 — 314 314 2032D convertible senior notes (3) 3.125 % 6.33 % — 151 151 — 288 288 2033E convertible senior notes (3) 1.625 % 4.50 % 276 — 276 278 — 278 2033F convertible senior notes (3) 2.125 % 4.93 % 270 — 270 265 — 265 2043G convertible senior notes 3.000 % 6.76 % — 646 646 — 636 636 Other notes payable 2.241 % 2.40 % 31 181 212 126 116 242 $ 1,148 $ 6,403 $ 7,551 $ 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 3.8% and 4.3% as of June 4, 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 March 31, 2015 exceeded 130% of the conversion price per share, holders had the right to convert their notes at any time during the calendar quarter ended June 30, 2015. The closing price of our common stock also exceeded the thresholds for the calendar quarter ended June 30, 2015; therefore, these notes are convertible by the holders through September 30, 2015. The 2033 Notes are classified as current because the terms of these notes require us to pay cash for the principal amount of any converted notes. |
Schedule of Extinguishment of Debt [Table Text Block] | In the first nine months of 2015, we consummated a number of transactions with respect to our debt, including conversions and settlements, repurchases, the issuances of non-convertible senior notes, and the early repayment of a note. As a result, we recognized losses of $18 million and $48 million in the third quarter and first nine months of 2015, respectively. The following table presents the effect of each of the actions in the first nine months of 2015: 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 (7 ) (7 ) (19 ) (15 ) 2 (121 ) (369 ) (408 ) (15 ) (22 ) Repurchases: 2032C Notes (139 ) (122 ) (415 ) (283 ) (10 ) 2032D Notes (166 ) (141 ) (492 ) (341 ) (11 ) (305 ) (263 ) (907 ) (624 ) (21 ) Issuances: 2023 Notes 1,000 1,000 988 — — 2024 Notes 550 550 545 — — 2026 Notes 450 450 446 — — 2,000 2,000 1,979 — — Early repayment of note (121 ) (120 ) (122 ) — (5 ) $ 1,453 $ 1,248 $ 542 $ (639 ) $ (48 ) (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 June 4, 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 2019 $ 224 23 $ 9.63 $ 12.52 $ 403 2032D Notes May 2021 177 18 9.98 12.97 302 2033E Notes February 2018 293 27 10.93 14.21 430 2033F Notes February 2020 300 27 10.93 14.21 441 2043G Notes (4) November 2028 1,025 35 29.16 37.91 — $ 2,019 130 $ 1,576 (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 June 30, 2015 for our 2032 Notes and 2033 Notes; therefore, those notes are convertible by the holders through September 30, 2015. (3) Based on our closing share price of $26.99 as of June 4, 2015 . (4) The original principal amount of $820 million accretes up to $917 million at the holder put date 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 June 4, 2015 , debt maturities and future minimum lease payments under capital lease obligations were as follows: Notes Payable Capital Lease Obligations Remainder of 2015 $ 62 $ 83 2016 305 346 2017 270 170 2018 545 129 2019 501 90 2020 and thereafter 5,541 107 Unamortized discounts and interest, respectively (528 ) (70 ) $ 6,696 $ 855 |
Corporate bonds [Member] | 2023, 2024,and 2026 senior notes [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument Redemption [Table Text Block] | We have the option to redeem these notes; however, the applicable redemption price will be determined as follows: Redemption Period Requiring Payment of: Redemption Up To 35% Using Cash Proceeds From An Equity Offering (3) : Make-Whole (1) Premium (2) Date Specified Price 2023 Notes Prior to Feb. 1, 2018 On or after Feb. 1, 2018 Prior to Feb. 1, 2018 105.250 % 2024 Notes Prior to May 1, 2018 On or after May 1, 2018 Prior to May 1, 2018 105.250 % 2026 Notes Prior to May 1, 2020 On or after May 1, 2020 Prior to May 1, 2018 105.625 % (1) If we redeem prior to the applicable date, the price is principal plus a make-whole premium equal to the present value of the remaining scheduled interest payments as described in the applicable indenture, together with accrued and unpaid interest. (2) If we redeem on or after the applicable date, the price is principal plus a premium which declines over time as specified in the applicable indenture, together with accrued and unpaid interest. (3) If we redeem prior to the applicable date with net cash proceeds of one or more equity offerings, the price is equal to the amount specified above, together with accrued and unpaid interest, subject to a maximum redemption of 35% of the aggregate principal amount of the respective note being redeemed. |
Equity (Tables)
Equity (Tables) | 9 Months Ended |
Jun. 04, 2015 | |
Variable Interest Entity [Line Items] | |
Schedule of Stockholders Equity [Table Text Block] | Changes in the components of equity were as follows: Nine Months Ended June 4, 2015 Nine Months Ended May 29, 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 2,428 — 2,428 1,895 33 1,928 Other comprehensive income (loss) (59 ) (1 ) (60 ) (19 ) — (19 ) Comprehensive income (loss) 2,369 (1 ) 2,368 1,876 33 1,909 Contributions from noncontrolling interests — 102 102 — 59 59 Distributions to noncontrolling interests — (6 ) (6 ) — (19 ) (19 ) Acquisition of noncontrolling interests in MMT — — — 34 (180 ) (146 ) Capital and other transactions attributable to Micron (682 ) — (682 ) (1,112 ) — (1,112 ) Ending balance $ 12,458 $ 897 $ 13,355 $ 9,940 $ 757 $ 10,697 |
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 (57 ) (13 ) (1 ) 32 (39 ) Amount reclassified out of accumulated other comprehensive income — (5 ) (2 ) (2 ) (9 ) Tax effects — — — (11 ) (11 ) Other comprehensive income (loss) (57 ) (18 ) (3 ) 19 (59 ) Balance as of June 4, 2015 $ (15 ) $ (6 ) $ (2 ) $ 20 $ (3 ) |
Schedule Of Noncontrolling Interests In Subsidiaries [Table Text Block] | June 4, 2015 August 28, 2014 Noncontrolling Interest Balance Noncontrolling Interest Percentage Noncontrolling Interest Balance Noncontrolling Interest Percentage IMFT (1) $ 790 49 % $ 693 49 % MP Mask (1) 93 50 % 93 50 % Other 14 Various 16 Various $ 897 $ 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 Nine Months Ended June 4, May 29, June 4, May 29, IMFT distributions to Micron $ — $ — $ 6 $ 10 IMFT distributions to Intel — — 6 10 Micron contributions to IMFT 85 10 106 61 Intel contributions to IMFT 82 10 102 59 |
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: June 4, August 28, Assets Cash and equivalents $ 238 $ 84 Receivables 72 73 Inventories 56 48 Other current assets 4 5 Total current assets 370 210 Property, plant and equipment, net 1,686 1,545 Other noncurrent assets 48 47 Total assets $ 2,104 $ 1,802 Liabilities Accounts payable and accrued expenses $ 253 $ 106 Deferred income 9 8 Current debt 21 21 Total current liabilities 283 135 Long-term debt 54 71 Other noncurrent liabilities 103 110 Total liabilities $ 440 $ 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: June 4, August 28, Current assets $ 21 $ 24 Noncurrent assets (primarily property, plant and equipment) 185 203 Current liabilities 24 28 Noncurrent liabilities — 14 Amounts exclude intercompany balances that were eliminated in our consolidated balance sheets. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Jun. 04, 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: June 4, 2015 August 28, 2014 Fair Value Carrying Value Fair Value Carrying Value Notes and MMJ creditor installment payments $ 5,166 $ 5,155 $ 3,634 $ 3,539 Convertible notes 3,747 1,541 5,886 2,143 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 9 Months Ended |
Jun. 04, 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 Assets (2) Current Liabilities (3) Noncurrent Liabilities (4) As of June 4, 2015 Currency forward contracts: Yen $ 878 $ — $ (35 ) $ — Singapore dollar 404 — (3 ) — Euro 359 6 (2 ) — New Taiwan dollar 62 — — — Shekel 57 — — — British Pound 19 — — — $ 1,779 $ 6 $ (40 ) $ — As of August 28, 2014 Currency forward contracts: Yen $ 554 $ — $ (12 ) $ (6 ) Singapore dollar 330 — — — 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 receivables – other. (3) Included in accounts payable and accrued expenses for forward contracts and in current debt for convertible notes settlement obligations. (4) 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 Nine Months Ended June 4, May 29, June 4, May 29, Foreign exchange contracts $ (10 ) $ 2 $ (83 ) $ (19 ) Convertible notes settlement obligations 1 (2 ) 7 (54 ) $ (9 ) $ — $ (76 ) $ (73 ) |
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 (in U.S. Dollars) Fair Value of Current Liabilities (1) As of June 4, 2015 Yen $ 43 $ (1 ) 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) | 9 Months Ended |
Jun. 04, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |
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 Nine Months Ended June 4, May 29, June 4, May 29, Stock options granted — 1 8 12 Weighted-average grant-date fair value per share $10.89 $11.35 $14.86 $9.38 Average expected life in years 5.6 5.7 5.6 4.9 Weighted-average expected volatility 42 % 52 % 45 % 48 % Weighted-average risk-free interest rate 1.6 % 1.8 % 1.7 % 1.6 % |
Schedule of restricted stock awards activity | Restricted Stock Awards activity for the third quarters and first nine months of 2015 and 2014 are summarized as follows: Quarter Ended Nine Months Ended June 4, May 29, June 4, May 29, Restricted stock awards granted — — 6 7 Weighted-average grant-date fair values per share $ 27.34 $ 22.73 $ 33.93 $ 21.39 |
Stock-based compensation expense by income statement line item | Stock-based Compensation Expense Quarter Ended Nine Months Ended June 4, May 29, June 4, May 29, Stock-based compensation expense by caption: Cost of goods sold $ 17 $ 12 $ 48 $ 27 Selling, general and administrative 15 12 48 36 Research and development 11 7 31 17 Other — 1 — 1 $ 43 $ 32 $ 127 $ 81 Stock-based compensation expense by type of award: Stock options $ 20 $ 16 $ 61 $ 44 Restricted stock awards 23 16 66 37 $ 43 $ 32 $ 127 $ 81 |
Stock-based compensation expense by plan | Stock-based Compensation Expense Quarter Ended Nine Months Ended June 4, May 29, June 4, May 29, Stock-based compensation expense by caption: Cost of goods sold $ 17 $ 12 $ 48 $ 27 Selling, general and administrative 15 12 48 36 Research and development 11 7 31 17 Other — 1 — 1 $ 43 $ 32 $ 127 $ 81 Stock-based compensation expense by type of award: Stock options $ 20 $ 16 $ 61 $ 44 Restricted stock awards 23 16 66 37 $ 43 $ 32 $ 127 $ 81 |
Other Operating (Income) Expe44
Other Operating (Income) Expense, Net (Tables) | 9 Months Ended |
Jun. 04, 2015 | |
Other Income and Expenses [Abstract] | |
Schedule of Other operating (income) expense, net | Quarter Ended Nine Months Ended June 4, May 29, June 4, May 29, (Gain) loss on disposition of property, plant and equipment $ (4 ) $ 2 $ (14 ) $ 11 Rambus settlement — — — 233 Other — 4 (22 ) 9 $ (4 ) $ 6 $ (36 ) $ 253 |
Other Non-Operating Income (E45
Other Non-Operating Income (Expense), Net (Tables) | 9 Months Ended |
Jun. 04, 2015 | |
Other Nonoperating Income (Expense) [Abstract] | |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | Quarter Ended Nine Months Ended June 4, May 29, June 4, May 29, Loss on restructure of debt $ (18 ) $ (16 ) $ (48 ) $ (171 ) Gain (loss) from changes in currency exchange rates 1 (5 ) (26 ) (25 ) Adjustment to gain on MMJ Acquisition — — — (33 ) Other 1 — 3 6 $ (16 ) $ (21 ) $ (71 ) $ (223 ) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Jun. 04, 2015 | |
Earnings Per Share [Abstract] | |
Basic and diluted earnings per share | Quarter Ended Nine Months Ended June 4, May 29, June 4, May 29, Net income available to Micron shareholders – Basic $ 491 $ 806 $ 2,428 $ 1,895 Dilutive effect related to equity method investment (1 ) (1 ) (3 ) (1 ) Net income available to Micron shareholders – Diluted $ 490 $ 805 $ 2,425 $ 1,894 Weighted-average common shares outstanding – Basic 1,073 1,067 1,072 1,058 Dilutive effect of equity plans and convertible notes 97 123 113 138 Weighted-average common shares outstanding – Diluted 1,170 1,190 1,185 1,196 Earnings per share: Basic $ 0.46 $ 0.76 $ 2.26 $ 1.79 Diluted 0.42 0.68 2.05 1.58 |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Jun. 04, 2015 | |
Segment Reporting [Abstract] | |
Segment Information | Quarter Ended Nine Months Ended June 4, May 29, June 4, May 29, Net sales: CNBU $ 1,514 $ 1,857 $ 5,424 $ 5,436 MBU 938 757 2,734 2,717 SBU 901 867 2,839 2,573 EBU 483 467 1,524 1,298 All Other 17 34 71 107 $ 3,853 $ 3,982 $ 12,592 $ 12,131 Operating income (loss): CNBU $ 266 $ 531 $ 1,382 $ 1,462 MBU 296 135 864 479 SBU (33 ) 55 (43 ) 228 EBU 98 96 331 254 All Other 4 22 37 69 Unallocated — — — (233 ) $ 631 $ 839 $ 2,571 $ 2,259 |
Cash and Investments (Details)
Cash and Investments (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||||
Jun. 04, 2015 | May. 29, 2014 | Jun. 04, 2015 | May. 29, 2014 | Aug. 28, 2014 | Aug. 29, 2013 | ||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash and equivalents | $ 3,694,000,000 | $ 4,062,000,000 | $ 3,694,000,000 | $ 4,062,000,000 | $ 4,150,000,000 | $ 2,880,000,000 | |
Short-term investments | 1,166,000,000 | 1,166,000,000 | 384,000,000 | ||||
Long-term marketable investments | [1] | 2,470,000,000 | 2,470,000,000 | 819,000,000 | |||
Total Fair Value | 7,330,000,000 | 7,330,000,000 | 5,353,000,000 | ||||
Available-for-sale Securities, Gross Realized Gain (Loss), Disclosures [Abstract] | |||||||
Proceeds from the sale of available-for-sale securities | 562,000,000 | $ 78,000,000 | 938,000,000 | $ 301,000,000 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | $ 0 | |||||
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 | [2] | 1,371,000,000 | $ 1,371,000,000 | 1,281,000,000 | |||
Short-term investments | [2] | 0 | 0 | 0 | |||
Long-term marketable investments | [1],[2] | 0 | 0 | 1,000,000 | |||
Total Fair Value | [2] | 1,371,000,000 | 1,371,000,000 | 1,282,000,000 | |||
Level 2 [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash and equivalents | [3] | 596,000,000 | 596,000,000 | 424,000,000 | |||
Short-term investments | [3] | 1,166,000,000 | 1,166,000,000 | 384,000,000 | |||
Long-term marketable investments | [1],[3] | 2,470,000,000 | 2,470,000,000 | 818,000,000 | |||
Total Fair Value | [3] | 4,232,000,000 | 4,232,000,000 | 1,626,000,000 | |||
Cash [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash and equivalents | 1,727,000,000 | 1,727,000,000 | 2,445,000,000 | ||||
Short-term investments | 0 | 0 | 0 | ||||
Long-term marketable investments | [1] | 0 | 0 | 0 | |||
Total Fair Value | 1,727,000,000 | 1,727,000,000 | 2,445,000,000 | ||||
Money market funds [Member] | Level 1 [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash and equivalents | [2] | 1,371,000,000 | 1,371,000,000 | 1,281,000,000 | |||
Short-term investments | [2] | 0 | 0 | 0 | |||
Long-term marketable investments | [1],[2] | 0 | 0 | 0 | |||
Total Fair Value | [2] | 1,371,000,000 | 1,371,000,000 | 1,281,000,000 | |||
Marketable equity securities [Member] | Level 1 [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash and equivalents | [2] | 0 | 0 | 0 | |||
Short-term investments | [2] | 0 | 0 | 0 | |||
Long-term marketable investments | [1],[2] | 0 | 0 | 1,000,000 | |||
Total Fair Value | [2] | 0 | 0 | 1,000,000 | |||
Corporate bonds [Member] | Level 2 [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash and equivalents | [3] | 9,000,000 | 9,000,000 | 0 | |||
Short-term investments | [3] | 558,000,000 | 558,000,000 | 154,000,000 | |||
Long-term marketable investments | [1],[3] | 1,350,000,000 | 1,350,000,000 | 407,000,000 | |||
Total Fair Value | [3] | 1,917,000,000 | 1,917,000,000 | 561,000,000 | |||
Government securities [Member] | Level 2 [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash and equivalents | [3] | 192,000,000 | 192,000,000 | 0 | |||
Short-term investments | [3] | 160,000,000 | 160,000,000 | 136,000,000 | |||
Long-term marketable investments | [1],[3] | 435,000,000 | 435,000,000 | 284,000,000 | |||
Total Fair Value | [3] | 787,000,000 | 787,000,000 | 420,000,000 | |||
Asset-backed securities [Member] | Level 2 [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash and equivalents | [3] | 0 | 0 | 0 | |||
Short-term investments | [3] | 5,000,000 | 5,000,000 | 1,000,000 | |||
Long-term marketable investments | [1],[3] | 651,000,000 | 651,000,000 | 127,000,000 | |||
Total Fair Value | [3] | 656,000,000 | 656,000,000 | 128,000,000 | |||
Commercial paper [Member] | Level 2 [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash and equivalents | [3] | 184,000,000 | 184,000,000 | 22,000,000 | |||
Short-term investments | [3] | 397,000,000 | 397,000,000 | 85,000,000 | |||
Long-term marketable investments | [1],[3] | 0 | 0 | 0 | |||
Total Fair Value | [3] | 581,000,000 | 581,000,000 | 107,000,000 | |||
Certificates of deposit [Member] | Level 2 [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Cash and equivalents | [3] | 211,000,000 | 211,000,000 | 402,000,000 | |||
Short-term investments | [3] | 46,000,000 | 46,000,000 | 8,000,000 | |||
Long-term marketable investments | [1],[3] | 34,000,000 | 34,000,000 | 0 | |||
Total Fair Value | [3] | $ 291,000,000 | $ 291,000,000 | $ 410,000,000 | |||
[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 measured using information obtained from pricing services, which obtain quoted market prices for similar instruments, non-binding market consensus prices that are corroborated by observable market data, or various other methodologies, to determine the appropriate value at the measurement date. We perform supplemental analysis to validate information obtained from these pricing services. As of June 4, 2015, no adjustments were made to such pricing information. |
Receivables (Details)
Receivables (Details) - USD ($) $ in Millions | Jun. 04, 2015 | Aug. 28, 2014 |
Receivables [Abstract] | ||
Trade receivables, net | $ 2,261 | $ 2,524 |
Income and other taxes | 81 | 104 |
Other | 188 | 278 |
Receivables | 2,530 | 2,906 |
Intel [Member] | Collaborative Arrangement Process Design and Process Development [Member] | ||
Receivables [Abstract] | ||
Other | $ 64 | $ 70 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Millions | Jun. 04, 2015 | Aug. 28, 2014 |
Inventory, Net, Items Net of Reserve Alternative [Abstract] | ||
Finished goods | $ 774 | $ 898 |
Work in process | 1,364 | 1,372 |
Raw materials and supplies | 243 | 185 |
Inventories | $ 2,381 | $ 2,455 |
Property, Plant and Equipment51
Property, Plant and Equipment (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Jun. 04, 2015 | May. 29, 2014 | Jun. 04, 2015 | May. 29, 2014 | Aug. 28, 2014 | ||
Movement in Property, Plant and Equipment [Roll Forward] | ||||||
Property, Plant and Equipment, Gross beginning balance | $ 23,432 | |||||
Additions | 3,053 | |||||
Retirements and Other | (471) | |||||
Property, Plant and Equipment, Gross ending balance | $ 26,014 | 26,014 | ||||
Movement in Accumulated Depreciation, Depletion and Amortization, Property, Plant and Equipment [Roll Forward] | ||||||
Accumulated depreciation beginning balance | (14,750) | |||||
Accumulated Depreciation, Addition due to Current Period Depreciation Expense | (1,868) | |||||
Retirements and other changes to accumulated depreciation | 461 | |||||
Accumulated depreciation ending balance | (16,157) | (16,157) | ||||
Movement in Property, Plant and Equipment, Net [Roll Forward] | ||||||
Property, Plant and Equipment, Net | 9,857 | 9,857 | $ 8,682 | |||
Property, Plant and Equipment, Net Affect of Additions and Depreciation Expense | 1,185 | |||||
Property, Plant and Equipment, Net Affect Retirements and Other Adjustments | (10) | |||||
Depreciation, Depletion and Amortization [Abstract] | ||||||
Depreciation expense | 644 | $ 508 | 1,870 | $ 1,460 | ||
Land [Member] | ||||||
Movement in Property, Plant and Equipment [Roll Forward] | ||||||
Property, Plant and Equipment, Gross beginning balance | 86 | |||||
Additions | 2 | |||||
Retirements and Other | 0 | |||||
Property, Plant and Equipment, Gross ending balance | 88 | 88 | ||||
Buildings [Member] | ||||||
Movement in Property, Plant and Equipment [Roll Forward] | ||||||
Property, Plant and Equipment, Gross beginning balance | 5,093 | |||||
Additions | 174 | |||||
Retirements and Other | (2) | |||||
Property, Plant and Equipment, Gross ending balance | 5,265 | 5,265 | ||||
Equipment [Member] | ||||||
Movement in Property, Plant and Equipment [Roll Forward] | ||||||
Property, Plant and Equipment, Gross beginning balance | [1] | 17,781 | ||||
Additions | 2,718 | |||||
Retirements and Other | (445) | |||||
Property, Plant and Equipment, Gross ending balance | [1] | 20,054 | 20,054 | |||
Equipment [Member] | Equipment not placed into service [Member] | ||||||
Movement in Property, Plant and Equipment [Roll Forward] | ||||||
Property, Plant and Equipment, Gross beginning balance | 826 | |||||
Property, Plant and Equipment, Gross ending balance | 1,070 | 1,070 | ||||
Construction in progress [Member] | ||||||
Movement in Property, Plant and Equipment [Roll Forward] | ||||||
Property, Plant and Equipment, Gross beginning balance | [2] | 114 | ||||
Additions | 136 | |||||
Retirements and Other | (1) | |||||
Property, Plant and Equipment, Gross ending balance | [2] | 249 | 249 | |||
Software [Member] | ||||||
Movement in Property, Plant and Equipment [Roll Forward] | ||||||
Property, Plant and Equipment, Gross beginning balance | 358 | |||||
Additions | 23 | |||||
Retirements and Other | (23) | |||||
Property, Plant and Equipment, Gross ending balance | $ 358 | $ 358 | ||||
[1] | Included costs related to equipment not placed into service of $1.07 billion and $826 million, as of June 4, 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) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Jun. 04, 2015USD ($) | Dec. 04, 2014USD ($) | May. 29, 2014USD ($) | Jun. 04, 2015USD ($) | May. 29, 2014USD ($) | Aug. 29, 2013 | Jun. 04, 2015¥ / shares | Jun. 04, 2015TWD / shares | Jun. 04, 2015USD ($) | Aug. 28, 2014USD ($) | ||
Schedule of Equity Method Investments [Line Items] | |||||||||||
Investment Balance | $ 1,324 | $ 971 | |||||||||
Equity in net income of equity method investees, net of tax | $ 68 | $ 135 | $ 400 | $ 355 | |||||||
Inotera [Member] | |||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||
Investment Balance | [1] | $ 1,273 | $ 914 | ||||||||
Ownership Percentage (in hundredths) | [1] | 33.00% | 33.00% | ||||||||
Equity in net income of equity method investees, net of tax | 67 | 134 | 402 | 349 | |||||||
Market value of equity interests | $ 2,260 | ||||||||||
Equity Method Investment, Quoted Market Price Per Share | TWD / shares | TWD 32.40 | ||||||||||
Amount in accumulated other comprehensive income (loss) for cumulative translation adjustments on its investment | $ (2) | $ 44 | |||||||||
Inotera [Member] | Inventories [Member] | DRAM [Member] | |||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||
Purchases of DRAM products from Inotera | 533 | 700 | 1,890 | 2,000 | |||||||
Inotera [Member] | Nanya [Member] | |||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||
Percentage interest held by a third party (in hundredths) | 33.00% | ||||||||||
Inotera [Member] | Income Tax Expense (Benefit), Adjustment of Deferred Tax (Asset) Liability [Member] | |||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||
Equity in net income of equity method investees, net of tax | 65 | ||||||||||
Inotera [Member] | Variable interest entity, not primary beneficiary [Member] | |||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||
Variable Interest Entity Entity Maximum Loss Exposure Amount From Investment Balance | $ 1,270 | ||||||||||
Tera Probe [Member] | |||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||
Investment Balance | $ 35 | $ 48 | |||||||||
Ownership Percentage (in hundredths) | 40.00% | 40.00% | |||||||||
Equity in net income of equity method investees, net of tax | 3 | 2 | $ (3) | 8 | |||||||
Market value of equity interests | $ 45 | ||||||||||
Equity Method Investment, Quoted Market Price Per Share | ¥ / shares | ¥ 1,528 | ||||||||||
Tera Probe other-than-temporary Impairment | $ 10 | ||||||||||
Difference between cost of Tera Probe investment and underlying equity | 29 | ||||||||||
Weighted-average period for remaining Tera Probe amortization (in years) | 7 years | ||||||||||
Tera Probe [Member] | MMJ Acquisition [Member] | |||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||
Cumulative Percentage Ownership after All Transactions | 40.00% | ||||||||||
Other [Member] | |||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||
Investment Balance | $ 16 | $ 9 | |||||||||
Equity in net income of equity method investees, net of tax | $ (2) | $ (1) | $ 1 | $ (2) | |||||||
[1] | (1) Entity is a variable interest entity. |
Equity Method Investments - 2 (
Equity Method Investments - 2 (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 04, 2015 | May. 29, 2014 | Jun. 04, 2015 | May. 29, 2014 | |
Tera Probe [Member] | ||||
Related Party Transaction [Line Items] | ||||
Related party purchases from Tera Probe | $ 19 | $ 24 | $ 66 | $ 88 |
Intangible Assets (Details)
Intangible Assets (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Jun. 04, 2015 | May. 29, 2014 | Jun. 04, 2015 | May. 29, 2014 | Aug. 28, 2014 | |
Intangible Assets [Abstract] | |||||
Gross Amount | $ 836 | $ 836 | $ 810 | ||
Accumulated Amortization | (405) | (405) | (342) | ||
Amortization expense for intangible assets | 29 | $ 34 | 89 | $ 88 | |
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract] | |||||
Annual amortization for 2015 | 117 | 117 | |||
Annual amortization for 2016 | 107 | 107 | |||
Annual amortization for 2017 | 95 | 95 | |||
Annual amortization for 2018 | 83 | 83 | |||
Annual amortization for 2019 | 35 | 35 | |||
Product and process technology [Member] | |||||
Intangible Assets [Abstract] | |||||
Gross Amount | 834 | 834 | 809 | ||
Accumulated Amortization | (404) | (404) | (341) | ||
Product and process technology intangible asset capitalized during period | $ 51 | $ 29 | |||
Product and process technology intangible asset capitalized during period, weighted-average useful lives (in years) | 7 years | 10 years | |||
Other Intangible Assets [Member] | |||||
Intangible Assets [Abstract] | |||||
Gross Amount | 2 | $ 2 | 1 | ||
Accumulated Amortization | $ (1) | $ (1) | $ (1) |
Accounts Payable and Accrued 55
Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Millions | Jun. 04, 2015 | Aug. 28, 2014 |
Accounts payable | $ 1,000 | $ 996 |
Property, plant and equipment payables | 1,018 | 289 |
Related party payables | 387 | 673 |
Salaries, wages and benefits | 340 | 456 |
Income and other taxes | 82 | 71 |
Customer advances | 79 | 98 |
Other | 298 | 281 |
Total accounts payable and accrued expenses | 3,204 | 2,864 |
Other Liabilities, Noncurrent [Abstract] | ||
Other noncurrent liabilities | 764 | 1,102 |
DRAM [Member] | ||
Customer advances | 60 | 90 |
Customer advances [Member] | DRAM [Member] | ||
Other Liabilities, Noncurrent [Abstract] | ||
Other noncurrent liabilities | 90 | |
Inotera [Member] | DRAM [Member] | ||
Related party payables | 378 | 660 |
Tera Probe [Member] | ||
Related party payables | $ 9 | $ 13 |
Debt - Schedule of Long-term De
Debt - Schedule of Long-term Debt (Details) TWD in Millions, $ in Millions | 2 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | |||||||||||
Jun. 04, 2015USD ($) | Jun. 04, 2015USD ($) | Dec. 02, 2014USD ($) | Feb. 12, 2015USD ($) | Jun. 04, 2015USD ($) | Jun. 18, 2015USD ($) | Jun. 04, 2015TWD | Apr. 30, 2015USD ($) | Mar. 13, 2015USD ($) | Feb. 03, 2015USD ($) | Aug. 28, 2014USD ($) | |||||
Debt Instrument [Line Items] | |||||||||||||||
Current debt | $ 1,148 | $ 1,148 | $ 1,148 | $ 1,638 | |||||||||||
Long-term debt | 6,403 | 6,403 | 6,403 | 4,955 | |||||||||||
Debt | 7,551 | 7,551 | 7,551 | 6,593 | |||||||||||
Capital lease obligations [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Current debt | [1] | 325 | 325 | 325 | 323 | ||||||||||
Long-term debt | [1] | 530 | 530 | 530 | 588 | ||||||||||
Debt | [1] | $ 855 | $ 855 | $ 855 | $ 911 | ||||||||||
Effective interest rate (in hundredths) | 3.80% | 3.80% | 3.80% | 3.80% | 4.30% | ||||||||||
Capital Lease Obligations [Abstract] | |||||||||||||||
Capital Lease Obligations Incurred | $ 324 | ||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage, Incurred in Current Period | 3.20% | ||||||||||||||
Long-term Debt, by Maturity [Abstract] | |||||||||||||||
Debt Instrument, Unamortized Discount | $ (70) | $ (70) | $ (70) | ||||||||||||
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||||||||||||||
Remainder of 2015 | 83 | 83 | 83 | ||||||||||||
2,016 | 346 | 346 | 346 | ||||||||||||
2,017 | 170 | 170 | 170 | ||||||||||||
2,018 | 129 | 129 | 129 | ||||||||||||
2,019 | 90 | 90 | 90 | ||||||||||||
2020 and thereafter | 107 | 107 | 107 | ||||||||||||
Debt Instrument, Unamortized Discount | (70) | (70) | (70) | ||||||||||||
Capital Lease Obligations | 855 | 855 | 855 | ||||||||||||
Capital lease obligations [Member] | Sales leaseback transactions [Member] | |||||||||||||||
Capital Lease Obligations [Abstract] | |||||||||||||||
Capital Lease Obligations Incurred | $ 37 | 291 | |||||||||||||
Debt Instrument, Interest Rate, Effective Percentage, Incurred in Current Period | 2.80% | ||||||||||||||
Reorganization obligation [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Current debt | 154 | $ 154 | 154 | $ 192 | |||||||||||
Long-term debt | 669 | 669 | 669 | 939 | |||||||||||
Debt | $ 823 | $ 823 | $ 823 | 1,131 | |||||||||||
Effective interest rate (in hundredths) | 6.25% | 6.25% | 6.25% | 6.25% | |||||||||||
Secured Debt [Member] | 1.258% senior notes | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Current debt | $ 92 | $ 92 | $ 92 | 92 | |||||||||||
Long-term debt | 278 | 278 | 278 | 324 | |||||||||||
Debt | $ 370 | $ 370 | $ 370 | 416 | |||||||||||
Sated Interest Rate (in hundredths) | 1.258% | 1.258% | 1.258% | 1.258% | |||||||||||
Effective interest rate (in hundredths) | 1.97% | 1.97% | 1.97% | 1.97% | |||||||||||
Corporate bonds [Member] | 2022 senior notes [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Current debt | $ 0 | $ 0 | $ 0 | 0 | |||||||||||
Long-term debt | 600 | 600 | 600 | 600 | |||||||||||
Debt | $ 600 | $ 600 | $ 600 | 600 | |||||||||||
Sated Interest Rate (in hundredths) | 5.875% | 5.875% | 5.875% | 5.875% | |||||||||||
Effective interest rate (in hundredths) | 6.14% | 6.14% | 6.14% | 6.14% | |||||||||||
Corporate bonds [Member] | 2023 senior notes [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Current debt | $ 0 | $ 0 | $ 0 | 0 | |||||||||||
Long-term debt | 1,000 | 1,000 | 1,000 | 0 | |||||||||||
Debt | $ 1,000 | $ 1,000 | $ 1,000 | 0 | |||||||||||
Sated Interest Rate (in hundredths) | 5.25% | 5.25% | 5.25% | 5.25% | |||||||||||
Effective interest rate (in hundredths) | 5.43% | 5.43% | 5.43% | 5.43% | |||||||||||
Face Value of Debt | $ 1,000 | ||||||||||||||
Unsecured Debt [Abstract] | |||||||||||||||
Debt Instrument, Redemption Price, Percentage | [2] | 105.25% | |||||||||||||
Corporate bonds [Member] | 2024 senior notes [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Current debt | $ 0 | $ 0 | $ 0 | 0 | |||||||||||
Long-term debt | 550 | 550 | 550 | 0 | |||||||||||
Debt | $ 550 | $ 550 | $ 550 | 0 | |||||||||||
Sated Interest Rate (in hundredths) | 5.25% | 5.25% | 5.25% | 5.25% | |||||||||||
Effective interest rate (in hundredths) | 5.38% | 5.38% | 5.38% | 5.38% | |||||||||||
Face Value of Debt | $ 550 | ||||||||||||||
Unsecured Debt [Abstract] | |||||||||||||||
Debt Instrument, Redemption Price, Percentage | [2] | 105.25% | |||||||||||||
Corporate bonds [Member] | 2025 senior notes [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Current debt | $ 0 | $ 0 | $ 0 | 0 | |||||||||||
Long-term debt | 1,150 | 1,150 | 1,150 | 1,150 | |||||||||||
Debt | $ 1,150 | $ 1,150 | $ 1,150 | 1,150 | |||||||||||
Sated Interest Rate (in hundredths) | 5.50% | 5.50% | 5.50% | 5.50% | |||||||||||
Effective interest rate (in hundredths) | 5.56% | 5.56% | 5.56% | 5.56% | |||||||||||
Corporate bonds [Member] | 2026 senior notes [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Current debt | $ 0 | $ 0 | $ 0 | 0 | |||||||||||
Long-term debt | 450 | 450 | 450 | 0 | |||||||||||
Debt | $ 450 | $ 450 | $ 450 | 0 | |||||||||||
Sated Interest Rate (in hundredths) | 5.625% | 5.625% | 5.625% | 5.625% | |||||||||||
Effective interest rate (in hundredths) | 5.73% | 5.73% | 5.73% | 5.73% | |||||||||||
Face Value of Debt | $ 450 | ||||||||||||||
Unsecured Debt [Abstract] | |||||||||||||||
Debt Instrument, Redemption Price, Percentage | [2] | 105.625% | |||||||||||||
Corporate bonds [Member] | 2023, 2024,and 2026 senior notes [Member] | |||||||||||||||
Unsecured Debt [Abstract] | |||||||||||||||
Payments of Debt Issuance Costs | $ 21 | ||||||||||||||
Debt Instrument, Domestic Restricted Subsidiaries, Ownership Percentage by Parent | 80.00% | 80.00% | 80.00% | 80.00% | |||||||||||
Corporate bonds [Member] | 2023, 2024,and 2026 senior notes [Member] | Maximum [Member] | |||||||||||||||
Unsecured Debt [Abstract] | |||||||||||||||
Debt Instrument Redemption Price Percentage of Principal Amount Redeemable Using Equity Offering Proceeds | 35.00% | ||||||||||||||
Convertible Debt [Member] | 2031B convertible senior notes [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Current debt | $ 0 | $ 0 | $ 0 | 362 | |||||||||||
Long-term debt | 0 | 0 | 0 | 0 | |||||||||||
Debt | $ 0 | $ 0 | $ 0 | 362 | |||||||||||
Sated Interest Rate (in hundredths) | 1.875% | 1.875% | 1.875% | 1.875% | |||||||||||
Effective interest rate (in hundredths) | 6.98% | 6.98% | 6.98% | 6.98% | |||||||||||
Convertible Debt [Member] | 2032C convertible senior notes [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Current debt | [4] | $ 0 | [3] | $ 0 | [3] | $ 0 | [3] | 0 | |||||||
Long-term debt | [4] | 198 | [3] | 198 | [3] | 198 | [3] | 314 | |||||||
Debt | [4] | $ 198 | [3] | $ 198 | [3] | $ 198 | [3] | 314 | |||||||
Sated Interest Rate (in hundredths) | 2.375% | 2.375% | 2.375% | 2.375% | |||||||||||
Effective interest rate (in hundredths) | 5.95% | 5.95% | 5.95% | 5.95% | |||||||||||
Convertible Debt [Member] | 2032D convertible senior notes [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Current debt | [4] | $ 0 | [3] | $ 0 | [3] | $ 0 | [3] | 0 | |||||||
Long-term debt | [4] | 151 | [3] | 151 | [3] | 151 | [3] | 288 | |||||||
Debt | [4] | $ 151 | [3] | $ 151 | [3] | $ 151 | [3] | 288 | |||||||
Sated Interest Rate (in hundredths) | 3.125% | 3.125% | 3.125% | 3.125% | |||||||||||
Effective interest rate (in hundredths) | 6.33% | 6.33% | 6.33% | 6.33% | |||||||||||
Convertible Debt [Member] | 2033E convertible senior notes [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Current debt | [4] | $ 276 | [3] | $ 276 | [3] | $ 276 | [3] | 278 | |||||||
Long-term debt | [4] | 0 | [3] | 0 | [3] | 0 | [3] | 0 | |||||||
Debt | [4] | $ 276 | [3] | $ 276 | [3] | $ 276 | [3] | 278 | |||||||
Sated Interest Rate (in hundredths) | 1.625% | 1.625% | 1.625% | 1.625% | |||||||||||
Effective interest rate (in hundredths) | 4.50% | 4.50% | 4.50% | 4.50% | |||||||||||
Convertible Debt [Member] | 2033F convertible senior note [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Current debt | [4] | $ 270 | [3] | $ 270 | [3] | $ 270 | [3] | 265 | |||||||
Long-term debt | [4] | 0 | [3] | 0 | [3] | 0 | [3] | 0 | |||||||
Debt | [4] | $ 270 | [3] | $ 270 | [3] | $ 270 | [3] | 265 | |||||||
Sated Interest Rate (in hundredths) | 2.125% | 2.125% | 2.125% | 2.125% | |||||||||||
Effective interest rate (in hundredths) | 4.93% | 4.93% | 4.93% | 4.93% | |||||||||||
Convertible Debt [Member] | 2043G convertible senior notes [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Current debt | [4] | $ 0 | $ 0 | $ 0 | 0 | ||||||||||
Long-term debt | [4] | 646 | 646 | 646 | 636 | ||||||||||
Debt | [4] | $ 646 | $ 646 | $ 646 | 636 | ||||||||||
Sated Interest Rate (in hundredths) | 3.00% | 3.00% | 3.00% | 3.00% | |||||||||||
Effective interest rate (in hundredths) | 6.76% | 6.76% | 6.76% | 6.76% | |||||||||||
Notes Payable, Other Payables [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Current debt | $ 31 | $ 31 | $ 31 | 126 | |||||||||||
Long-term debt | 181 | 181 | 181 | 116 | |||||||||||
Debt | $ 212 | $ 212 | $ 212 | $ 242 | |||||||||||
Sated Interest Rate (in hundredths) | 2.241% | 2.241% | 2.241% | 2.241% | |||||||||||
Effective interest rate (in hundredths) | 2.40% | 2.40% | 2.40% | 2.40% | |||||||||||
Notes Payable, Other Payables [Member] | Secured Debt 7 [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Face Value of Debt | $ 47 | ||||||||||||||
Line of Credit Facility [Abstract] | |||||||||||||||
Debt instrument, original term | 2 years | ||||||||||||||
Notes Payable, Other Payables [Member] | Secured Debt 7 [Member] | TAIBOR [Member] | |||||||||||||||
Line of Credit Facility [Abstract] | |||||||||||||||
Debt Instrument Variable Reference Rate Period 1 | 90 days | ||||||||||||||
Margin on variable rate financing (in hundredths) | 1.65% | ||||||||||||||
Notes Payable, Other Payables [Member] | Secured Debt 5 [Member] | IM Flash Technologies, LLC [Member] | |||||||||||||||
Line of Credit Facility [Abstract] | |||||||||||||||
Debt instrument, original term | 5 years | ||||||||||||||
Debt Instrument Period After Draw Prior To Initial Payment 1 | 3 months | ||||||||||||||
Debt Instrument, Unused Borrowing Capacity, Amount | $ 275 | $ 275 | $ 275 | ||||||||||||
Notes Payable, Other Payables [Member] | Secured Debt 5 [Member] | Swap Rate [Member] | IM Flash Technologies, LLC [Member] | |||||||||||||||
Line of Credit Facility [Abstract] | |||||||||||||||
Debt Instrument Variable Reference Rate Period 1 | 3 years | ||||||||||||||
Margin on variable rate financing (in hundredths) | 1.64% | ||||||||||||||
Notes Payable, Other Payables [Member] | Secured Debt 6 [Member] | |||||||||||||||
Line of Credit Facility [Abstract] | |||||||||||||||
Debt instrument, original term | 3 years | ||||||||||||||
Debt Instrument Period After Draw Prior To Initial Payment 1 | 6 months | ||||||||||||||
Debt Instrument, Unused Borrowing Capacity, Amount | 225 | 225 | $ 225 | TWD 6,900 | |||||||||||
Notes Payable, Other Payables [Member] | Secured Debt 6 [Member] | Subsequent Event [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Face Value of Debt | $ 40 | ||||||||||||||
Notes Payable, Other Payables [Member] | Secured Debt 6 [Member] | Libor [Member] | United States of America, Dollars | |||||||||||||||
Line of Credit Facility [Abstract] | |||||||||||||||
Debt Instrument Variable Reference Rate Period 1 | 3 months | ||||||||||||||
Notes Payable, Other Payables [Member] | Secured Debt 6 [Member] | Libor [Member] | Maximum [Member] | United States of America, Dollars | |||||||||||||||
Line of Credit Facility [Abstract] | |||||||||||||||
Margin on variable rate financing (in hundredths) | 2.20% | ||||||||||||||
Notes Payable, Other Payables [Member] | Secured Debt 6 [Member] | TAIBOR [Member] | Taiwan, New Dollars | |||||||||||||||
Line of Credit Facility [Abstract] | |||||||||||||||
Debt Instrument Variable Reference Rate Period 1 | 3 months | ||||||||||||||
Notes Payable, Other Payables [Member] | Secured Debt 6 [Member] | TAIBOR [Member] | Maximum [Member] | Taiwan, New Dollars | |||||||||||||||
Line of Credit Facility [Abstract] | |||||||||||||||
Margin on variable rate financing (in hundredths) | 2.00% | ||||||||||||||
Notes Payable, Other Payables [Member] | Revolving Credit Facility 1 [Member] | |||||||||||||||
Line of Credit Facility [Abstract] | |||||||||||||||
Debt instrument, original term | 3 years | ||||||||||||||
Terminated Line of Credit | $ 255 | ||||||||||||||
Notes Payable, Other Payables [Member] | Revolving Credit Facility 4 [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt | 75 | 75 | $ 75 | ||||||||||||
Line of Credit Facility [Abstract] | |||||||||||||||
Debt instrument, original term | 5 years | ||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 750 | $ 750 | $ 750 | ||||||||||||
Percentage Of Collateral To Face Value Of Issued And Ouststanding Credit Facility | 80.00% | 80.00% | 80.00% | 80.00% | |||||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 518 | $ 518 | $ 518 | ||||||||||||
Proceeds from Lines of Credit | $ 75 | ||||||||||||||
Interest rate at period end (in hundredths) | 2.15% | 2.15% | 2.15% | 2.15% | |||||||||||
Notes Payable, Other Payables [Member] | Revolving Credit Facility 4 [Member] | Libor [Member] | Minimum [Member] | |||||||||||||||
Line of Credit Facility [Abstract] | |||||||||||||||
Margin on variable rate financing (in hundredths) | 1.75% | ||||||||||||||
Notes Payable, Other Payables [Member] | Revolving Credit Facility 4 [Member] | Libor [Member] | Maximum [Member] | |||||||||||||||
Line of Credit Facility [Abstract] | |||||||||||||||
Margin on variable rate financing (in hundredths) | 2.25% | ||||||||||||||
Notes Payable, Other Payables [Member] | Revolving Credit Facility 2 [Member] | |||||||||||||||
Line of Credit Facility [Abstract] | |||||||||||||||
Debt instrument, original term | 3 years | ||||||||||||||
Terminated Line of Credit | $ 153 | ||||||||||||||
Notes Payable, Other Payables [Member] | Revolving Credit Facility 3 [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt | $ 50 | $ 50 | $ 50 | ||||||||||||
Line of Credit Facility [Abstract] | |||||||||||||||
Debt instrument, original term | 5 years | ||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 540 | 540 | $ 540 | ||||||||||||
Line of Credit Facility, Current Borrowing Capacity | 343 | $ 343 | $ 343 | ||||||||||||
Proceeds from Lines of Credit | $ 50 | ||||||||||||||
Interest rate at period end (in hundredths) | 1.65% | 1.65% | 1.65% | 1.65% | |||||||||||
Notes Payable, Other Payables [Member] | Revolving Credit Facility 3 [Member] | Libor [Member] | Minimum [Member] | |||||||||||||||
Line of Credit Facility [Abstract] | |||||||||||||||
Margin on variable rate financing (in hundredths) | 1.25% | ||||||||||||||
Notes Payable, Other Payables [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 | $ 62 | $ 62 | $ 62 | ||||||||||||
2,016 | 305 | 305 | 305 | ||||||||||||
2,017 | 270 | 270 | 270 | ||||||||||||
2,018 | 545 | 545 | 545 | ||||||||||||
2,019 | 501 | 501 | 501 | ||||||||||||
2020 and thereafter | 5,541 | 5,541 | 5,541 | ||||||||||||
Debt Instrument, Unamortized Discount | (528) | (528) | (528) | ||||||||||||
Notes Payable | 6,696 | 6,696 | 6,696 | ||||||||||||
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||||||||||||||
Debt Instrument, Unamortized Discount | $ (528) | $ (528) | $ (528) | ||||||||||||
[1] | Weighted-average imputed rate of 3.8% and 4.3% as of June 4, 2015 and August 28, 2014, respectively. | ||||||||||||||
[2] | If we redeem prior to the applicable date with net cash proceeds of one or more equity offerings, the price is equal to the amount specified above, together with accrued and unpaid interest, subject to a maximum redemption of 35% of the aggregate principal amount of the respective note being redeemed. | ||||||||||||||
[3] | Since the closing price of our common stock for at least 20 trading days in the 30 trading day period ending on March 31, 2015 exceeded 130% of the conversion price per share, holders had the right to convert their notes at any time during the calendar quarter ended June 30, 2015. The closing price of our common stock also exceeded the thresholds for the calendar quarter ended June 30, 2015; therefore, these notes are convertible by the holders through September 30, 2015. The 2033 Notes are classified as current because the terms of these notes require us to pay cash for the principal amount of any converted notes. | ||||||||||||||
[4] | 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. |
Debt - Extinguishment of Debt (
Debt - Extinguishment of Debt (Details) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Jun. 04, 2015USD ($) | May. 29, 2014USD ($) | Jun. 04, 2015USD ($)d | May. 29, 2014USD ($) | ||
Extinguishment of Debt [Line Items] | |||||
Debt Instrument, Increase (Decrease), Net Principal | $ 1,453 | ||||
Debt Instrument, Increase (Decrease), Net | 1,248 | ||||
Cash, Increase (Decrease), Net Change As A Result Of Debt Restructure Activities | 542 | ||||
Debt Instrument, Decrease in Equity | (639) | ||||
(Loss) gain on restructure of debt | $ (18) | $ (16) | (48) | $ (171) | |
Convertible Notes Payable [Member] | Conversion And Settlement [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Debt Instrument, Increase (Decrease), Net Principal | (121) | ||||
Debt Instrument, Increase (Decrease), Net | (369) | ||||
Repayments to Settle Long-term Debt Obligations, Gross | (408) | ||||
Debt Instrument, Decrease in Equity | $ (15) | ||||
Volume-weighted-average price of our common stock period of consecutive trading days (in days) | d | 20 | ||||
Interest and debt expense incurred through restructure of debt | 121 | ||||
Face value of debt extinguished | 770 | ||||
Convertible Notes Payable [Member] | Repurchase [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Debt Instrument, Increase (Decrease), Net Principal | $ (305) | ||||
Extinguishment of debt carrying amount | (263) | ||||
Repayments to Settle Long-term Debt Obligations, Gross | (907) | ||||
Debt Instrument, Decrease in Equity | (624) | ||||
Face value of debt extinguished | 263 | ||||
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 | (139) | ||||
Extinguishment of debt carrying amount | (122) | ||||
Repayments to Settle Long-term Debt Obligations, Gross | (415) | ||||
Debt Instrument, Decrease in Equity | (283) | ||||
Convertible Notes Payable [Member] | 2032D convertible senior notes [Member] | Repurchase [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Debt Instrument, Increase (Decrease), Net Principal | (166) | ||||
Extinguishment of debt carrying amount | (141) | ||||
Repayments to Settle Long-term Debt Obligations, Gross | (492) | ||||
Debt Instrument, Decrease in Equity | (341) | ||||
Convertible Notes Payable [Member] | 2033E convertible senior notes [Member] | Conversion And Settlement [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Debt Instrument, Increase (Decrease), Net Principal | (7) | ||||
Debt Instrument, Increase (Decrease), Net | (7) | ||||
Repayments to Settle Long-term Debt Obligations, Gross | (19) | ||||
Debt Instrument, Decrease in Equity | (15) | ||||
Corporate bonds [Member] | Debt Issuance [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Debt Instrument, Increase (Decrease), Net Principal | 2,000 | ||||
Debt Instrument, Increase (Decrease), Net | 2,000 | ||||
Proceeds from Debt, Net of Issuance Costs | 1,979 | ||||
Debt Instrument, Decrease in Equity | 0 | ||||
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 | ||||
Corporate bonds [Member] | 2024 senior notes [Member] | Debt Issuance [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Debt Instrument, Increase (Decrease), Net Principal | 550 | ||||
Debt Instrument, Increase (Decrease), Net | 550 | ||||
Proceeds from Debt, Net of Issuance Costs | 545 | ||||
Debt Instrument, Decrease in Equity | 0 | ||||
Corporate bonds [Member] | 2026 senior notes [Member] | Debt Issuance [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Debt Instrument, Increase (Decrease), Net Principal | 450 | ||||
Debt Instrument, Increase (Decrease), Net | 450 | ||||
Proceeds from Debt, Net of Issuance Costs | 446 | ||||
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 | [1] | $ (18) | (48) | ||
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 | [1] | (22) | |||
Interest and debt expense incurred through restructure of debt | 115 | ||||
Other Non-Operating Income Expense Net [Member] | Convertible Notes Payable [Member] | Repurchase [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
(Loss) gain on restructure of debt | [1] | (21) | |||
Interest and debt expense incurred through restructure of debt | 18 | ||||
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 | [1] | (24) | |||
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] | (10) | |||
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 | [1] | (11) | |||
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 | [1] | 2 | |||
Other Non-Operating Income Expense Net [Member] | Corporate bonds [Member] | Debt Issuance [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
(Loss) gain on restructure of debt | 0 | ||||
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 | ||||
Other Non-Operating Income Expense Net [Member] | Corporate bonds [Member] | 2024 senior notes [Member] | Debt Issuance [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
(Loss) gain on restructure of debt | 0 | ||||
Other Non-Operating Income Expense Net [Member] | Corporate bonds [Member] | 2026 senior notes [Member] | Debt Issuance [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
(Loss) gain on restructure of debt | 0 | ||||
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 | [1] | $ (5) | |||
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. |
Debt Debt - Conversion Value in
Debt Debt - Conversion Value in Excess of Principal (Details) - Jun. 04, 2015 $ / shares in Units, shares in Millions, $ in Millions | USD ($)d$ / sharesshares | |
Schedule of Conversion Value in Excess of Principal [Line Items] | ||
Share Price (in dollars per share) | $ / shares | $ 26.99 | |
Convertible Debt [Member] | ||
Schedule of Conversion Value in Excess of Principal [Line Items] | ||
Long-term Debt, Gross | $ 2,019 | |
Debt Instrument Convertible Underlying Shares | shares | 130 | |
Debt Instrument, Convertible, If-converted Value in Excess of Principal | $ 1,576 | |
Debt Instrument, Convertible, Threshold Trading Days | d | 20 | |
Debt Instrument, Convertible, Threshold Consecutive Trading Days | 30 days | |
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | 130.00% | |
Convertible Debt [Member] | 2032C convertible senior notes [Member] | ||
Schedule of Conversion Value in Excess of Principal [Line Items] | ||
Debt Instrument Put Date Earliest | [1] | May 31, 2019 |
Long-term Debt, Gross | $ 224 | |
Debt Instrument Convertible Underlying Shares | shares | 23 | |
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 9.63 | |
Debt Instrument, Convertible, Stock Price Trigger | $ / shares | [2] | $ 12.52 |
Debt Instrument, Convertible, If-converted Value in Excess of Principal | [3] | $ 403 |
Convertible Debt [Member] | 2032D convertible senior notes [Member] | ||
Schedule of Conversion Value in Excess of Principal [Line Items] | ||
Debt Instrument Put Date Earliest | [1] | May 31, 2021 |
Long-term Debt, Gross | $ 177 | |
Debt Instrument Convertible Underlying Shares | shares | 18 | |
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 9.98 | |
Debt Instrument, Convertible, Stock Price Trigger | $ / shares | [2] | $ 12.97 |
Debt Instrument, Convertible, If-converted Value in Excess of Principal | [3] | $ 302 |
Convertible Debt [Member] | 2033E convertible senior notes [Member] | ||
Schedule of Conversion Value in Excess of Principal [Line Items] | ||
Debt Instrument Put Date Earliest | [1] | Feb. 28, 2018 |
Long-term Debt, Gross | $ 293 | |
Debt Instrument Convertible Underlying Shares | shares | 27 | |
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 10.93 | |
Debt Instrument, Convertible, Stock Price Trigger | $ / shares | [2] | $ 14.21 |
Debt Instrument, Convertible, If-converted Value in Excess of Principal | [3] | $ 430 |
Convertible Debt [Member] | 2033F convertible senior note [Member] | ||
Schedule of Conversion Value in Excess of Principal [Line Items] | ||
Debt Instrument Put Date Earliest | [1] | Feb. 28, 2020 |
Long-term Debt, Gross | $ 300 | |
Debt Instrument Convertible Underlying Shares | shares | 27 | |
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 10.93 | |
Debt Instrument, Convertible, Stock Price Trigger | $ / shares | [2] | $ 14.21 |
Debt Instrument, Convertible, If-converted Value in Excess of Principal | [3] | $ 441 |
Convertible Debt [Member] | 2043G convertible senior notes [Member] | ||
Schedule of Conversion Value in Excess of Principal [Line Items] | ||
Debt Instrument Put Date Earliest | [1],[4] | Nov. 30, 2028 |
Long-term Debt, Gross | [4] | $ 1,025 |
Debt Instrument Convertible Underlying Shares | shares | 35 | |
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 29.16 | |
Debt Instrument, Convertible, Stock Price Trigger | $ / shares | $ 37.91 | |
Debt Instrument, Convertible, If-converted Value in Excess of Principal | [3] | $ 0 |
Debt Instrument Issued At A Discount, Original Principal Amount | 820 | |
Debt Instrument, Scheduled Accreted Principal Amount | $ 917 | |
[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 June 30, 2015 for our 2032 Notes and 2033 Notes; therefore, those notes are convertible by the holders through September 30, 2015. | |
[3] | Based on our closing share price of $26.99 as of June 4, 2015. | |
[4] | The original principal amount of $820 million accretes up to $917 million at the holder put date in November 2028 and $1.03 billion at maturity in 2043. |
Contingencies (Details)
Contingencies (Details) $ in Millions | Mar. 13, 2014USD ($) | Jun. 23, 2010USD ($)integer | Jul. 31, 2006integer | Jun. 04, 2015USD ($)integer | Nov. 29, 2012USD ($) | Mar. 10, 2014integer |
Pending Litigation [Member] | Qimonda AG Inotera Share Purchase Proceedings [Member] | Inotera [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss contingency, damages awarded, value | $ | $ 1 | |||||
Equity method investment carrying value of shares acquired from Qimonda | $ | $ 703 | |||||
Equity method investment quoted market value of shares acquired from Qimonda | $ | $ 1,250 | |||||
Equity method investment approximate percentage of Inotera shares acquired from Qimonda | 55.00% | |||||
Patent Matters [Member] | Pending Litigation [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] | Pending Litigation [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] | Pending Litigation [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] | Pending Litigation [Member] | Semcon Tech, LLC [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Number of patents allegedly infringed | 1 | |||||
Patent Matters [Member] | Pending Litigation [Member] | Elm 3DS Innovations, LLC [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Number of patents allegedly infringed | 13 | |||||
Patent Matters [Member] | Pending Litigation [Member] | Innovative Memory Solutions, Inc. [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Number of patents allegedly infringed | 8 | |||||
Antitrust Matters [Member] | Settled, Pending Court Approval [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 amount | $ | $ 67 | |||||
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 | |||||
Securities Matter [Member] | Pending Litigation [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 ($) $ in Millions | Jun. 04, 2015 | Aug. 28, 2014 |
Debt Instrument [Line Items] | ||
Redeemable convertible notes | $ 48 | $ 57 |
2033E and 2033F convertible senior notes [Member] | ||
Debt Instrument [Line Items] | ||
Redeemable convertible notes | $ 48 | $ 57 |
Equity - Changes in the Compone
Equity - Changes in the Components of Equity (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 04, 2015 | May. 29, 2014 | Jun. 04, 2015 | May. 29, 2014 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Beginning Balance | $ 11,573 | $ 10,006 | ||
Net income (loss) | $ 491 | $ 806 | 2,428 | 1,928 |
Other comprehensive income (loss) | 15 | (15) | (60) | (19) |
Comprehensive income (loss) | 506 | 791 | 2,368 | 1,909 |
Contributions from noncontrolling interests | 102 | 59 | ||
Distributions to noncontrolling interests | (6) | (19) | ||
Acquisition of noncontrolling interest in MMT | 0 | (146) | ||
Capital and other transactions attributable to Micron | (682) | (1,112) | ||
Ending Balance | 13,355 | 10,697 | $ 13,355 | $ 10,697 |
Stock repurchased and retired during the period for equity plans (in shares) | 2 | 7 | ||
Stock repurchased and retired during the period for equity plans | $ 53 | $ 75 | ||
Attributable to Micron [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Beginning Balance | 10,771 | 9,142 | ||
Net income (loss) | 2,428 | 1,895 | ||
Other comprehensive income (loss) | (59) | (19) | ||
Comprehensive income (loss) | 2,369 | 1,876 | ||
Contributions from noncontrolling interests | 0 | 0 | ||
Distributions to noncontrolling interests | 0 | 0 | ||
Acquisition of noncontrolling interest in MMT | 0 | 34 | ||
Capital and other transactions attributable to Micron | (682) | (1,112) | ||
Ending Balance | 12,458 | 9,940 | 12,458 | 9,940 |
Noncontrolling Interests in Subsidiaries [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Beginning Balance | 802 | 864 | ||
Net income (loss) | 0 | 33 | ||
Other comprehensive income (loss) | (1) | 0 | ||
Comprehensive income (loss) | (1) | 33 | ||
Contributions from noncontrolling interests | 102 | 59 | ||
Distributions to noncontrolling interests | (6) | (19) | ||
Acquisition of noncontrolling interest in MMT | 0 | (180) | ||
Capital and other transactions attributable to Micron | 0 | 0 | ||
Ending Balance | $ 897 | $ 757 | $ 897 | $ 757 |
Equity Common Stock Repurchases
Equity Common Stock Repurchases (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 05, 2015 | Jun. 04, 2015 | |
Equity, Class of Treasury Stock [Line Items] | ||
Authorized share repurchase amount | $ 1,000 | |
Treasury stock acquired (in shares) | 7 | |
Value of treasury stock acquired | $ 192 | |
Remaining authorized share repurchase amount | $ 808 |
Equity - Capped Calls (Details)
Equity - Capped Calls (Details) - 9 months ended Jun. 04, 2015 - Call Option [Member] - Purchased options [Member] - Convertible Debt [Member] - USD ($) | Total |
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 As
Equity - Restrictions on Net Assets (Details) $ in Millions | Jun. 04, 2015USD ($) |
MMJ Group [Member] | |
Restrictions for Consolidated and Unconsolidated Subsidiaries [Abstract] | |
Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries | $ 3,070 |
MMJ Group [Member] | Cash and Cash Equivalents [Member] | |
Restrictions for Consolidated and Unconsolidated Subsidiaries [Abstract] | |
Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries | 1,260 |
IM Flash Technologies, LLC [Member] | |
Restrictions for Consolidated and Unconsolidated Subsidiaries [Abstract] | |
Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries | 874 |
IM Flash Technologies, LLC [Member] | Cash and Cash Equivalents [Member] | |
Restrictions for Consolidated and Unconsolidated Subsidiaries [Abstract] | |
Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries | $ 238 |
Equity - Accumulated Other Comp
Equity - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 04, 2015 | May. 29, 2014 | Jun. 04, 2015 | May. 29, 2014 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Beginning accumulated other comprehensive income | $ 56 | |||
Other comprehensive income (loss) | $ 15 | $ (15) | (60) | $ (19) |
Ending accumulated other comprehensive income | (3) | (3) | ||
Cumulative Foreign Currency Translation Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Beginning accumulated other comprehensive income | 42 | |||
Other comprehensive income before reclassifications | (57) | |||
Amount reclassified out of accumulated other comprehensive income | 0 | |||
Tax effects | 0 | |||
Other comprehensive income (loss) | (57) | |||
Ending accumulated other comprehensive income | (15) | (15) | ||
Gains (Losses) on Derivative Instruments, Net [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Beginning accumulated other comprehensive income | 12 | |||
Other comprehensive income before reclassifications | (13) | |||
Amount reclassified out of accumulated other comprehensive income | (5) | |||
Tax effects | 0 | |||
Other comprehensive income (loss) | (18) | |||
Ending accumulated other comprehensive income | (6) | (6) | ||
Gains (Losses) on Investments, Net [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Beginning accumulated other comprehensive income | 1 | |||
Other comprehensive income before reclassifications | (1) | |||
Amount reclassified out of accumulated other comprehensive income | (2) | |||
Tax effects | 0 | |||
Other comprehensive income (loss) | (3) | |||
Ending accumulated other comprehensive income | (2) | (2) | ||
Pension Liability Adjustments [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Beginning accumulated other comprehensive income | 1 | |||
Other comprehensive income before reclassifications | 32 | |||
Amount reclassified out of accumulated other comprehensive income | (2) | |||
Tax effects | (11) | |||
Other comprehensive income (loss) | 19 | |||
Ending accumulated other comprehensive income | 20 | 20 | ||
Attributable to Micron [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Beginning accumulated other comprehensive income | 56 | |||
Other comprehensive income before reclassifications | (39) | |||
Amount reclassified out of accumulated other comprehensive income | (9) | |||
Tax effects | (11) | |||
Other comprehensive income (loss) | (59) | $ (19) | ||
Ending accumulated other comprehensive income | $ (3) | $ (3) |
Equity - NCI and Consolidated V
Equity - NCI and Consolidated VIE Disclosures (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Jun. 04, 2015 | May. 29, 2014 | Jun. 04, 2015 | May. 29, 2014 | Aug. 28, 2014 | ||
Variable Interest Entity [Line Items] | ||||||
Noncontrolling interests in subsidiaries | $ 897 | $ 897 | $ 802 | |||
R and D expenses reduced by reimbursements from Intel | (406) | $ (349) | (1,161) | $ (1,013) | ||
Net sales | 3,853 | 3,982 | 12,592 | 12,131 | ||
Trade receivables | 2,261 | 2,261 | 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 | 58 | 36 | 158 | 100 | ||
IM Flash Technologies, LLC [Member] | Intel [Member] | NAND Flash [Member] | ||||||
Variable Interest Entity [Line Items] | ||||||
Net sales | 101 | 107 | 309 | 312 | ||
Trade receivables | 62 | 62 | 66 | |||
Other Consolidated Entities [Member] | ||||||
Variable Interest Entity [Line Items] | ||||||
Noncontrolling interests in subsidiaries | 14 | 14 | 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 | [1] | $ 790 | $ 790 | $ 693 | ||
Variable interest entity, ownership percentage by noncontrolling owners (in hundredths) | [1] | 49.00% | 49.00% | 49.00% | ||
Ownership percentage after stock transactions during period (in hundredths) | 51.00% | 51.00% | ||||
Noncontrolling Interest Items [Abstract] | ||||||
IMFT distributions to Micron | $ 0 | 0 | $ 6 | 10 | ||
IMFT distributions to Intel | 0 | 0 | 6 | 10 | ||
Micron contributions to IMFT | 85 | 10 | 106 | 61 | ||
Intel contributions to IMFT | 82 | $ 10 | 102 | $ 59 | ||
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 | [1] | $ 93 | $ 93 | $ 93 | ||
Variable interest entity, ownership percentage by noncontrolling owners (in hundredths) | [1] | 50.00% | 50.00% | 50.00% | ||
Ownership percentage after stock transactions during period (in hundredths) | 50.00% | 50.00% | ||||
[1] | (1) Entity is a variable interest entity. |
Equity - Consolidated VIE asset
Equity - Consolidated VIE assets and liabilities (Details) - USD ($) $ in Millions | Jun. 04, 2015 | Aug. 28, 2014 | May. 29, 2014 | Aug. 29, 2013 | ||
Assets | ||||||
Cash and equivalents | $ 3,694 | $ 4,150 | $ 4,062 | $ 2,880 | ||
Receivables | 2,530 | 2,906 | ||||
Inventories | 2,381 | 2,455 | ||||
Other current assets | 237 | 350 | ||||
Total current assets | 10,008 | 10,245 | ||||
Property, plant and equipment, net | 9,857 | 8,682 | ||||
Other noncurrent assets | 493 | 497 | ||||
Total assets | 25,136 | 22,498 | ||||
Liabilities | ||||||
Accounts payable and accrued expenses | 3,204 | 2,864 | ||||
Deferred income | 214 | 309 | ||||
Current debt | 1,148 | 1,638 | ||||
Total current liabilities | 4,566 | 4,811 | ||||
Long-term debt | 6,403 | 4,955 | ||||
Other noncurrent liabilities | 764 | 1,102 | ||||
Total liabilities | 11,733 | 10,868 | ||||
Variable Interest Entity, Primary Beneficiary [Member] | IM Flash Technologies, LLC [Member] | ||||||
Assets | ||||||
Cash and equivalents | 238 | 84 | [1] | |||
Receivables | [1] | 72 | 73 | |||
Inventories | [1] | 56 | 48 | |||
Other current assets | [1] | 4 | 5 | |||
Total current assets | [1] | 370 | 210 | |||
Property, plant and equipment, net | [1] | 1,686 | 1,545 | |||
Other noncurrent assets | [1] | 48 | 47 | |||
Total assets | [1] | 2,104 | 1,802 | |||
Liabilities | ||||||
Accounts payable and accrued expenses | [1] | 253 | 106 | |||
Deferred income | [1] | 9 | 8 | |||
Current debt | [1] | 21 | 21 | |||
Total current liabilities | [1] | 283 | 135 | |||
Long-term debt | [1] | 54 | 71 | |||
Other noncurrent liabilities | [1] | 103 | 110 | |||
Total liabilities | [1] | 440 | 316 | |||
Variable Interest Entity, Primary Beneficiary [Member] | MP Mask Technology Center, LLC [Member] | ||||||
Assets | ||||||
Total current assets | [1] | 21 | 24 | |||
Noncurrent assets (primarily property, plant and equipment) | [1] | 185 | 203 | |||
Liabilities | ||||||
Total current liabilities | [1] | 24 | 28 | |||
Noncurrent Liabilities | [1] | $ 0 | $ 14 | |||
[1] | Amounts exclude intercompany balances that were eliminated in our consolidated balance sheets. |
Fair Value Measurements - Asset
Fair Value Measurements - Assets measured (Details) - USD ($) $ in Millions | Jun. 04, 2015 | Aug. 28, 2014 |
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 | $ 28 | $ 27 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair and Carrying Value (Details) - USD ($) $ in Millions | Jun. 04, 2015 | Aug. 28, 2014 |
Fair value disclosure [Line Items] | ||
Debt | $ 7,551 | $ 6,593 |
Carrying Value [Member] | Notes and MMJ creditor installment payments | ||
Fair value disclosure [Line Items] | ||
Debt | 5,155 | 3,539 |
Carrying Value [Member] | Convertible Notes [Member] | ||
Fair value disclosure [Line Items] | ||
Debt | 1,541 | 2,143 |
Fair Value [Member] | Level 2 [Member] | Notes and MMJ creditor installment payments | ||
Fair value disclosure [Line Items] | ||
Notes and MMJ creditor installment payments | 5,166 | 3,634 |
Fair Value [Member] | Level 2 [Member] | Convertible Notes [Member] | ||
Fair value disclosure [Line Items] | ||
Convertible notes | $ 3,747 | $ 5,886 |
Derivative Instruments - Fair V
Derivative Instruments - Fair Values (Details) shares in Millions, $ in Millions, ¥ in Billions | 3 Months Ended | 9 Months Ended | |||||
Dec. 04, 2014USD ($) | Jun. 04, 2015USD ($) | May. 29, 2014USD ($) | Jun. 04, 2015JPY (¥) | Nov. 28, 2014JPY (¥) | Aug. 28, 2014USD ($)shares | ||
Notional Disclosures [Abstract] | |||||||
Payments for Derivative and Hedge Investing Activities | $ 94 | $ 25 | |||||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | |||||||
Notional Disclosures [Abstract] | |||||||
Notional Amount Outstanding | [1] | $ 1,779 | $ 1,191 | ||||
Foreign Currency Cash Flow Hedges [Abstract] | |||||||
General maturity of non-designated currency forward contracts (in days) | 35 days | ||||||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Japan, Yen | |||||||
Notional Disclosures [Abstract] | |||||||
Notional Amount Outstanding | [1] | $ 878 | 554 | ||||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Singapore, Dollars | |||||||
Notional Disclosures [Abstract] | |||||||
Notional Amount Outstanding | [1] | 404 | 330 | ||||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Euro Member Countries, Euro | |||||||
Notional Disclosures [Abstract] | |||||||
Notional Amount Outstanding | [1] | 359 | 245 | ||||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Taiwan, New Dollars | |||||||
Notional Disclosures [Abstract] | |||||||
Notional Amount Outstanding | [1] | 62 | |||||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Israel, New Shekels | |||||||
Notional Disclosures [Abstract] | |||||||
Notional Amount Outstanding | [1] | 57 | $ 62 | ||||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | United Kingdom, Pounds | |||||||
Notional Disclosures [Abstract] | |||||||
Notional Amount Outstanding | [1] | $ 19 | |||||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Reorganization obligation [Member] | |||||||
Notional Disclosures [Abstract] | |||||||
Payments for Derivative and Hedge Investing Activities | $ 33 | ||||||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Reorganization obligation [Member] | Japan, Yen | |||||||
Notional Disclosures [Abstract] | |||||||
Notional Amount Outstanding | ¥ | ¥ 20 | ||||||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Less Than One Year From Balance Sheet Date [Member] | Reorganization obligation [Member] | Japan, Yen | |||||||
Notional Disclosures [Abstract] | |||||||
Notional Amount Outstanding | ¥ | ¥ 10 | ||||||
Not Designated as Hedging Instrument [Member] | Convertible notes settlement obligations [Member] | |||||||
Notional Disclosures [Abstract] | |||||||
Derivative, Nonmonetary Notional Amount | shares | [1] | 12 | |||||
Foreign Currency Cash Flow Hedges [Abstract] | |||||||
Convertible notes settlement obligations derivative term (in days) | 30 days | ||||||
Not Designated as Hedging Instrument [Member] | Accounts Payable and Accrued Expenses [Member] | Forward Contracts [Member] | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Liability | [2] | $ (40) | |||||
Not Designated as Hedging Instrument [Member] | Accounts Payable and Accrued Expenses [Member] | Forward Contracts [Member] | Japan, Yen | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Liability | [2] | (35) | $ (12) | ||||
Not Designated as Hedging Instrument [Member] | Accounts Payable and Accrued Expenses [Member] | Forward Contracts [Member] | Singapore, Dollars | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Liability | [2] | (3) | 0 | ||||
Not Designated as Hedging Instrument [Member] | Accounts Payable and Accrued Expenses [Member] | Forward Contracts [Member] | Euro Member Countries, Euro | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Liability | [2] | (2) | (1) | ||||
Not Designated as Hedging Instrument [Member] | Accounts Payable and Accrued Expenses [Member] | Forward Contracts [Member] | Taiwan, New Dollars | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Liability | [2] | 0 | |||||
Not Designated as Hedging Instrument [Member] | Accounts Payable and Accrued Expenses [Member] | Forward Contracts [Member] | Israel, New Shekels | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Liability | [2] | 0 | (1) | ||||
Not Designated as Hedging Instrument [Member] | Accounts Payable and Accrued Expenses [Member] | Forward Contracts [Member] | United Kingdom, Pounds | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Liability | [2] | 0 | |||||
Not Designated as Hedging Instrument [Member] | Current Debt [Member] | Convertible notes settlement obligations [Member] | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Liability | [2] | (389) | |||||
Not Designated as Hedging Instrument [Member] | Total Current Liabilities [Member] | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Liability | [2] | (403) | |||||
Not Designated as Hedging Instrument [Member] | Other noncurrent liabilities [Member] | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Liability | [3] | (6) | |||||
Not Designated as Hedging Instrument [Member] | Other noncurrent liabilities [Member] | Forward Contracts [Member] | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Liability | [3] | 0 | |||||
Not Designated as Hedging Instrument [Member] | Other noncurrent liabilities [Member] | Forward Contracts [Member] | Japan, Yen | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Liability | [3] | 0 | (6) | ||||
Not Designated as Hedging Instrument [Member] | Other noncurrent liabilities [Member] | Forward Contracts [Member] | Singapore, Dollars | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Liability | [3] | 0 | 0 | ||||
Not Designated as Hedging Instrument [Member] | Other noncurrent liabilities [Member] | Forward Contracts [Member] | Euro Member Countries, Euro | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Liability | [3] | 0 | 0 | ||||
Not Designated as Hedging Instrument [Member] | Other noncurrent liabilities [Member] | Forward Contracts [Member] | Taiwan, New Dollars | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Liability | [3] | 0 | |||||
Not Designated as Hedging Instrument [Member] | Other noncurrent liabilities [Member] | Forward Contracts [Member] | Israel, New Shekels | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Liability | [3] | 0 | 0 | ||||
Not Designated as Hedging Instrument [Member] | Other noncurrent liabilities [Member] | Forward Contracts [Member] | United Kingdom, Pounds | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Liability | [3] | 0 | |||||
Not Designated as Hedging Instrument [Member] | Other noncurrent liabilities [Member] | Convertible notes settlement obligations [Member] | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Liability | [3] | 0 | |||||
Not Designated as Hedging Instrument [Member] | Accounts Receivable [Member] | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Asset | [4] | 0 | |||||
Not Designated as Hedging Instrument [Member] | Accounts Receivable [Member] | Forward Contracts [Member] | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Asset | [4] | 6 | |||||
Not Designated as Hedging Instrument [Member] | Accounts Receivable [Member] | Forward Contracts [Member] | Japan, Yen | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Asset | [4] | 0 | 0 | ||||
Not Designated as Hedging Instrument [Member] | Accounts Receivable [Member] | Forward Contracts [Member] | Singapore, Dollars | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Asset | [4] | 0 | 0 | ||||
Not Designated as Hedging Instrument [Member] | Accounts Receivable [Member] | Forward Contracts [Member] | Euro Member Countries, Euro | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Asset | [4] | 6 | 0 | ||||
Not Designated as Hedging Instrument [Member] | Accounts Receivable [Member] | Forward Contracts [Member] | Taiwan, New Dollars | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Asset | [4] | 0 | |||||
Not Designated as Hedging Instrument [Member] | Accounts Receivable [Member] | Forward Contracts [Member] | Israel, New Shekels | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Asset | [4] | 0 | 0 | ||||
Not Designated as Hedging Instrument [Member] | Accounts Receivable [Member] | Forward Contracts [Member] | United Kingdom, Pounds | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Asset | [4] | $ 0 | |||||
Not Designated as Hedging Instrument [Member] | Accounts Receivable [Member] | Convertible notes settlement obligations [Member] | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Asset | [4] | 0 | |||||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Forward Contracts [Member] | |||||||
Notional Disclosures [Abstract] | |||||||
Notional Amount Outstanding | 118 | ||||||
Foreign Currency Cash Flow Hedges [Abstract] | |||||||
General maturity of hedge contracts (in days or months) | 12 months | ||||||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Forward Contracts [Member] | Japan, Yen | |||||||
Notional Disclosures [Abstract] | |||||||
Notional Amount Outstanding | $ 43 | 94 | |||||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Forward Contracts [Member] | Euro Member Countries, Euro | |||||||
Notional Disclosures [Abstract] | |||||||
Notional Amount Outstanding | 24 | ||||||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Accounts Payable and Accrued Expenses [Member] | Forward Contracts [Member] | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Liability | [5] | (2) | |||||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Accounts Payable and Accrued Expenses [Member] | Forward Contracts [Member] | Japan, Yen | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Liability | [5] | $ (1) | (2) | ||||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Accounts Payable and Accrued Expenses [Member] | Forward Contracts [Member] | Euro Member Countries, Euro | |||||||
Derivative, Fair Value, Net [Abstract] | |||||||
Fair Value of Liability | [5] | $ 0 | |||||
[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 receivables – other. | ||||||
[5] | Included in accounts payable and accrued expenses. |
Derivative Instruments - Hedgin
Derivative Instruments - Hedging Relationship (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 04, 2015 | May. 29, 2014 | Jun. 04, 2015 | May. 29, 2014 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $ 4 | $ 4 | ||
Not Designated as Hedging Instrument [Member] | Other Non-Operating Income Expense Net [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Net gains (losses) for derivative instruments without hedge accounting designation | (9) | $ 0 | (76) | $ (73) |
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 | (10) | 2 | (83) | (19) |
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 | 1 | $ (2) | 7 | (54) |
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 | 5 | 3 | ||
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 | $ 1 | $ (14) | $ (2) |
Equity Plans - Share Based Comp
Equity Plans - Share Based Compensation (Details) - USD ($) $ / shares in Units, shares in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 04, 2015 | May. 29, 2014 | Jun. 04, 2015 | May. 29, 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) | 171 | 171 | ||
Number of shares available for future awards (in shares) | 111 | 111 | ||
Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ||||
Stock options granted (in shares) | 0 | 1 | 8 | 12 |
Weighted-average grant-date fair values per share of options granted during period (in dollars per share) | $ 10.89 | $ 11.35 | $ 14.86 | $ 9.38 |
Average expected life (in years) | 5 years 7 months | 5 years 8 months | 5 years 7 months | 4 years 11 months |
Weighted-average expected volatility (in hundredths) | 42.00% | 52.00% | 45.00% | 48.00% |
Weighted-average risk-free interest rate (in hundredths) | 1.60% | 1.80% | 1.70% | 1.60% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Payments | $ 0 | |||
Restricted Stock Awards [Member] | ||||
Restricted Stock Awards activity | ||||
Number of restricted awards - Outstanding (in shares) | 14 | 14 | ||
Restricted stock awards granted (in shares) | 0 | 0 | 6 | 7 |
Weighted-average grant-date fair values per share (in dollars per share) | $ 27.34 | $ 22.73 | $ 33.93 | $ 21.39 |
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 - Stock-based comp
Equity Plans - Stock-based compensation expense (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 04, 2015 | May. 29, 2014 | Jun. 04, 2015 | May. 29, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation | $ 43 | $ 32 | $ 127 | $ 81 |
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 | 432 | $ 432 | ||
Weighted average period that unrecognized compensation costs is expected to be recognized (in years) | 1 year 5 months | |||
Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation | 20 | 16 | $ 61 | 44 |
Restricted Stock Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation | 23 | 16 | 66 | 37 |
Cost of Goods Sold [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation | 17 | 12 | 48 | 27 |
Selling, General and Administrative Expenses [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation | 15 | 12 | 48 | 36 |
Research and Development [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation | 11 | 7 | 31 | 17 |
Other Expense [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Stock-based compensation | $ 0 | $ 1 | $ 0 | $ 1 |
Other Operating (Income) Expe74
Other Operating (Income) Expense, Net (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 04, 2015 | May. 29, 2014 | Jun. 04, 2015 | May. 29, 2014 | |
Component Of Operating Other Income And Expense Net [Line Items] | ||||
(Gain) loss on disposition of property, plant and equipment | $ (4) | $ 2 | $ (14) | $ 11 |
Rambus settlement | 0 | 0 | 0 | 233 |
Other | 0 | 4 | (22) | 9 |
Other operating (income) expense, net | $ (4) | $ 6 | $ (36) | 253 |
Rambus Settlement [Member] | Settled Litigation [Member] | ||||
Component Of Operating Other Income And Expense Net [Line Items] | ||||
Rambus settlement | $ 233 |
Other Non-Operating Income (E75
Other Non-Operating Income (Expense), Net (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 04, 2015 | May. 29, 2014 | Jun. 04, 2015 | May. 29, 2014 | |
Component of Other Non-Operating Income (Expense), Net [Line Items] | ||||
Loss on restructure of debt | $ (18) | $ (16) | $ (48) | $ (171) |
Gain (loss) from changes in currency exchange rates | 1 | (5) | (26) | (25) |
Adjustment to gain on MMJ Acquisition | 0 | 0 | 0 | (33) |
Other | 1 | 0 | 3 | 6 |
Other non-operating income (expense), net | $ (16) | $ (21) | $ (71) | $ (223) |
Income Taxes (Details 1)
Income Taxes (Details 1) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 04, 2015 | May. 29, 2014 | Jun. 04, 2015 | May. 29, 2014 | |
MMJ Group [Member] | ||||
Deferred [Abstract] | ||||
Deferred foreign income tax provision | $ 22 | $ 49 | $ 93 | $ 177 |
Elpida Memories, Inc. now known as Micron Memory Japan, Inc. [Member] | Foreign Tax Authority [Member] | Japan | ||||
Deferred [Abstract] | ||||
Write-down of MMJ deferred tax asset for changes in Japan tax laws | $ 45 |
Income Taxes Unrecognized tax b
Income Taxes Unrecognized tax benefits (Details 2) $ in Millions | 12 Months Ended |
Sep. 03, 2015USD ($) | |
Scenario, Forecast [Member] | |
Income Tax Contingency [Line Items] | |
Estimated potential increase in unrecognized tax benefits primarily due to transfer pricing matters | $ 130 |
Income Taxes Income Taxes - Est
Income Taxes Income Taxes - Estimated Potential Changes to Unrecognized Tax Benefits (Details 3) | Jun. 04, 2015USD ($) |
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 | $ 70,000,000 |
Income Taxes Income Tax Holiday
Income Taxes Income Tax Holiday (Details 4) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 04, 2015 | May. 29, 2014 | Jun. 04, 2015 | May. 29, 2014 | |
Income Tax Holiday [Line Items] | ||||
Reduction to our tax provision due to tax incentive arrangements | $ 52 | $ 88 | $ 289 | $ 232 |
Benefit to our diluted earnings per share due to tax incentive arrangements (in dollars per share) | $ 0.04 | $ 0.07 | $ 0.24 | $ 0.19 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 04, 2015 | May. 29, 2014 | Jun. 04, 2015 | May. 29, 2014 | |
Earnings Per Share Reconciliation [Abstract] | ||||
Net income available to Micron shareholders – Basic | $ 491 | $ 806 | $ 2,428 | $ 1,895 |
Dilutive effect related to equity method investment | (1) | (1) | (3) | (1) |
Net income available to Micron shareholders – Diluted | $ 490 | $ 805 | $ 2,425 | $ 1,894 |
Weighted Average Number of Shares Outstanding Reconciliation [Abstract] | ||||
Weighted-average common shares outstanding - Basic (in shares) | 1,073 | 1,067 | 1,072 | 1,058 |
Dilutive effect of equity plans and convertible notes (in shares) | 97 | 123 | 113 | 138 |
Weighted-average common shares outstanding - Diluted (in shares) | 1,170 | 1,190 | 1,185 | 1,196 |
Earnings Per Share, Basic [Abstract] | ||||
Basic (in dollars per share) | $ 0.46 | $ 0.76 | $ 2.26 | $ 1.79 |
Earnings Per Share, Diluted [Abstract] | ||||
Diluted (in dollars per share) | $ 0.42 | $ 0.68 | $ 2.05 | $ 1.58 |
Earnings Per Share Earnings Per
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) - shares shares in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 04, 2015 | May. 29, 2014 | Jun. 04, 2015 | May. 29, 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) | 55 | 45 | 27 | 43 |
Segment Information (Details)
Segment Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 04, 2015 | May. 29, 2014 | Jun. 04, 2015 | May. 29, 2014 | |
Segment Reporting Information [Line Items] | ||||
Net sales | $ 3,853 | $ 3,982 | $ 12,592 | $ 12,131 |
Operating income (loss) | 631 | 839 | 2,571 | 2,259 |
CNBU [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net sales | 1,514 | 1,857 | 5,424 | 5,436 |
MBU [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net sales | 938 | 757 | 2,734 | 2,717 |
SBU [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net sales | 901 | 867 | 2,839 | 2,573 |
EBU [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net sales | 483 | 467 | 1,524 | 1,298 |
All Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net sales | 17 | 34 | 71 | 107 |
Operating Segments [Member] | CNBU [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Operating income (loss) | 266 | 531 | 1,382 | 1,462 |
Operating Segments [Member] | MBU [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Operating income (loss) | 296 | 135 | 864 | 479 |
Operating Segments [Member] | SBU [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Operating income (loss) | (33) | 55 | (43) | 228 |
Operating Segments [Member] | EBU [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Operating income (loss) | 98 | 96 | 331 | 254 |
Operating Segments [Member] | All Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Operating income (loss) | 4 | 22 | 37 | 69 |
Unallocated [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Operating income (loss) | $ 0 | $ 0 | $ 0 | $ (233) |