Document and Entity Information
Document and Entity Information Document - shares | 3 Months Ended | |
Dec. 03, 2015 | Jan. 07, 2016 | |
Entity Information [Line Items] | ||
Entity Registrant Name | MICRON TECHNOLOGY INC | |
Entity Central Index Key | 723,125 | |
Current Fiscal Year End Date | --09-01 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Dec. 3, 2015 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 1,037,455,896 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Dec. 03, 2015 | Dec. 04, 2014 | |
Income Statement [Abstract] | ||
Net sales | $ 3,350 | $ 4,573 |
Cost of goods sold | 2,501 | 2,935 |
Gross margin | 849 | 1,638 |
Selling, general, and administrative | 179 | 193 |
Research and development | 421 | 376 |
Other operating (income) expense, net | 17 | (16) |
Operating income | 232 | 1,085 |
Interest income | 11 | 7 |
Interest expense | (96) | (90) |
Other non-operating income (expense), net | (4) | (49) |
Income before income taxes, net income attributable to noncontrolling interests and equity in net income (loss) of equity method investees: | 143 | 953 |
Income tax (provision) benefit | 4 | (75) |
Equity in net income of equity method investees | 59 | 124 |
Net income | 206 | 1,002 |
Net (income) loss attributable to noncontrolling interests | 0 | 1 |
Net income attributable to Micron | $ 206 | $ 1,003 |
Earnings per share: | ||
Basic (in dollars per share) | $ 0.20 | $ 0.94 |
Diluted (in dollars per share) | $ 0.19 | $ 0.84 |
Number of shares used in per share calculations: | ||
Basic (in shares) | 1,035 | 1,070 |
Diluted (in shares) | 1,085 | 1,195 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions | 3 Months Ended | |
Dec. 03, 2015 | Dec. 04, 2014 | |
Net income | $ 206 | $ 1,002 |
Other comprehensive income (loss), net of tax | ||
Foreign currency translation adjustments | (90) | (24) |
Gain (loss) on derivatives, net | (4) | (16) |
Gain (loss) on investments, net | (3) | 0 |
Pension liability adjustments | (6) | 19 |
Other comprehensive income (loss) | (103) | (21) |
Total comprehensive income | 103 | 981 |
Comprehensive (income) loss attributable to noncontrolling interests | 0 | 1 |
Comprehensive income attributable to Micron | $ 103 | $ 982 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions | Dec. 03, 2015 | Sep. 03, 2015 | |
Assets | |||
Cash and equivalents | $ 2,605 | $ 2,287 | |
Short-term investments | 1,036 | 1,234 | |
Receivables | 2,223 | 2,507 | |
Inventories | 2,435 | 2,340 | |
Other current assets | 211 | 228 | |
Total current assets | 8,510 | 8,596 | |
Long-term marketable investments | [1] | 1,771 | 2,113 |
Property, plant and equipment, net | 11,060 | 10,554 | |
Equity method investments | 1,351 | 1,379 | |
Intangible assets, net | 536 | 449 | |
Deferred tax assets | 595 | 597 | |
Other noncurrent assets | 565 | 455 | |
Total assets | 24,388 | 24,143 | |
Liabilities and equity | |||
Accounts payable and accrued expenses | 2,784 | 2,611 | |
Deferred income | 190 | 205 | |
Current debt | 1,051 | 1,089 | |
Total current liabilities | 4,025 | 3,905 | |
Long-term debt | 6,326 | 6,252 | |
Other noncurrent liabilities | 720 | 698 | |
Total liabilities | $ 11,071 | $ 10,855 | |
Commitments and contingencies | |||
Redeemable convertible notes | $ 42 | $ 49 | |
Micron shareholders' equity: | |||
Common stock, $0.10 par value, 3,000 shares authorized; 1,087 shares issued and outstanding (1,084 as of September 3, 2015) | 109 | 108 | |
Additional capital | 7,500 | 7,474 | |
Retained earnings | 5,788 | 5,588 | |
Treasury stock, 52 shares held (45 as of September 3, 2015) | (1,006) | (881) | |
Accumulated other comprehensive income | (90) | 13 | |
Total Micron shareholders' equity | 12,301 | 12,302 | |
Noncontrolling interests in subsidiaries | 974 | 937 | |
Total equity | 13,275 | 13,239 | |
Total liabilities and equity | $ 24,388 | $ 24,143 | |
[1] | The maturities of long-term marketable investments generally range from one to four years. |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions | Dec. 03, 2015 | Sep. 03, 2015 |
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) | 1,087 | 1,084 |
Common Stock, outstanding (in shares) | 1,087 | 1,084 |
Treasury Stock, held (in shares) | 52 | 45 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions | 3 Months Ended | |
Dec. 03, 2015 | Dec. 04, 2014 | |
Cash flows from operating activities | ||
Net income | $ 206 | $ 1,002 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation expense and amortization of intangible assets | 737 | 643 |
Amortization of debt discount and other costs | 33 | 38 |
Stock-based compensation | 46 | 35 |
Loss on restructure of debt | 1 | 30 |
Equity in net income of equity method investees | (59) | (124) |
Change in operating assets and liabilities: | ||
Receivables | 297 | 252 |
Inventories | (95) | 7 |
Accounts payable and accrued expenses | 2 | (321) |
Deferred income taxes, net | (1) | 126 |
Other | (47) | (96) |
Net cash provided by operating activities | 1,120 | 1,592 |
Cash flows from investing activities | ||
Expenditures for property, plant and equipment | (990) | (669) |
Purchases of available-for-sale securities | (510) | (668) |
Payments to settle hedging activities | (46) | (66) |
Proceeds from sales and maturities of available-for-sale securities | 1,044 | 330 |
Other | (158) | (3) |
Net cash provided by (used for) investing activities | (660) | (1,076) |
Cash flows from financing activities | ||
Repayments of debt | (197) | (786) |
Cash paid to acquire treasury stock | (135) | (26) |
Proceeds from issuance of debt | 174 | 0 |
Contributions from noncontrolling interests | 37 | 20 |
Proceeds from issuance of stock under equity plans | 15 | 18 |
Other | (34) | (32) |
Net cash provided by (used for) financing activities | (140) | (806) |
Effect of changes in currency exchange rates on cash and equivalents | (2) | (96) |
Net increase (decrease) in cash and equivalents | 318 | (386) |
Cash and equivalents at beginning of period | 2,287 | 4,150 |
Cash and equivalents at end of period | $ 2,605 | $ 3,764 |
Business and Basis of Presentat
Business and Basis of Presentation | 3 Months Ended |
Dec. 03, 2015 | |
Accounting Policies [Abstract] | |
Business and Basis of Presentation | Business and Basis of Presentation We are 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, multi-chip 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 consolidated 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 September 3, 2015 . 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. Our fiscal year is the 52 or 53-week period ending on the Thursday closest to August 31. Fiscal year 2016 contains 52 weeks and the first quarter of fiscal 2016, which ended on December 3, 2015 , contained 13 weeks. Fiscal year 2015 contained 53 weeks and the first quarter of fiscal 2015, which ended on December 4, 2014 , contained 14 weeks. 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 September 3, 2015 . |
Variable Interest Entities
Variable Interest Entities | 3 Months Ended |
Dec. 03, 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 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 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 | 3 Months Ended |
Dec. 03, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recently Issued Accounting Standards | Recently Issued Accounting Standards In January 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-01 – Recognition and Measurement of Financial Assets and Financial Liabilities , which provides guidance for the recognition, measurement, presentation, and disclosure of financial assets and liabilities. This ASU will be effective for us beginning in our first quarter of 2019. We are evaluating the effects of the adoption of this ASU on our financial statements. In November 2015, the FASB issued ASU 2015-17 – Balance Sheet Classification of Deferred Taxes, which eliminates the current requirement to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, entities will be required to classify all deferred tax assets and liabilities as noncurrent. This ASU will be effective for us beginning in our first quarter of 2018 and early adoption is permitted. We are evaluating the timing of our adoption of this ASU. We do not expect this adoption to have a material impact on our financial statements. In September 2015, the FASB issued ASU 2015-16 – Simplifying the Accounting for Measurement-Period Adjustments, which eliminates the requirement to restate prior period financial statements for measurement period adjustments. Instead, the cumulative impact of measurement period adjustments, including the impact on prior periods, is required to be recognized in the reporting period in which the adjustment is identified. This ASU will be effective for us beginning in our first quarter of 2017 and early adoption is permitted. We are evaluating the timing of our adoption and the effects of the adoption of this ASU on our financial statements. In April 2015, the FASB issued ASU 2015-05 – Customer's Accounting for Fees Paid in a Cloud Computing Arrangement , which provides additional guidance to customers about whether a cloud computing arrangement includes a software license. Under ASU 2015-05, if a 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 timing of our adoption and the effects of the adoption of this ASU 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 timing of our adoption and 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 supersedes 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. Including the one-year extension of this ASU provided by ASU 2015-14, we are required to adopt this ASU beginning in our first quarter of 2019; however, we are permitted to adopt this ASU as early as our first quarter of 2018. This ASU allows for either full retrospective or modified retrospective adoption. We are evaluating the timing of our adoption, the transition method we will elect, and the effects of the adoption of this ASU on our financial statements. |
Planned Acquisition of Inotera
Planned Acquisition of Inotera and License Agreement with Nanya | 3 Months Ended |
Dec. 03, 2015 | |
Inotera [Member] | |
Business Acquisition [Line Items] | |
Subsequent Event, Inotera Acquisition [Text Block] | Planned Acquisition of Inotera and License Agreement with Nanya Acquisition of Remaining Inotera Shares On December 14, 2015, we entered into an agreement with Inotera (the "Framework Agreement"), pursuant to which we will acquire 100% of the issued and outstanding shares of Inotera for 30 New Taiwan dollars per share (or the equivalent of approximately $0.92 , assuming 32.7 New Taiwan dollars per U.S. dollar). As of December 3, 2015 , we held a 33% ownership interest in Inotera, Nanya and certain of its affiliates held a 32% ownership interest, and the remaining ownership interest in Inotera was publicly held. We estimate that, based on the shares outstanding and the exchange rate as of December 14, 2015, the aggregate consideration payable for the Inotera shares not already owned by us would be approximately $4.1 billion . The Framework Agreement provides that we and Inotera will cooperate in good faith to negotiate and execute a further definitive agreement (the "Definitive Agreement") by February 12, 2016. We or Inotera may terminate the Framework Agreement if the Definitive Agreement is not executed by that date. Under the Framework Agreement, the consummation of the acquisition of the Inotera shares is subject to various conditions, including but not limited to: • the receipt of necessary regulatory approvals from authorities in Taiwan; • the adoption and approval of the acquisition by the shareholders of Inotera, which requires the affirmative vote of holders of at least two-thirds of the issued and outstanding Inotera shares (including the shares held by us and the shares held by Nanya and its affiliates); • the consummation and funding of the Private Placement (defined below); and • the consummation and funding of debt financing of at least 80 billion New Taiwan dollars (or the equivalent of approximately $2.5 billion , assuming 32.7 New Taiwan dollars per U.S. dollar), on terms that are satisfactory to us. In addition, the Framework Agreement contains, and the Definitive Agreement, if executed, will contain, certain termination rights, including: • termination by either us or Inotera if we have not completed the purchase of the remaining shares of Inotera by November 30, 2016; or • termination by us if we have not obtained debt commitment letters for at least 80 billion New Taiwan dollars by May 1, 2016. Voting and Support Agreements : In December 2015, we also entered into voting and support agreements with Nanya and certain of Nanya's affiliates, representing approximately 32% of Inotera's shares, pursuant to which the parties agreed to (1) cause their respective boards of directors to vote in favor of and approve the transaction and (2) vote their Inotera shares in favor of and approve shareholder actions relevant to the transaction. Pursuant to the voting and support agreements, the parties have further agreed not to transfer any of their Inotera shares so long as the voting and support agreements are in effect. These agreements will terminate automatically upon the termination of either the Framework Agreement or the Definitive Agreement. Issuance of Micron Shares to Nanya : On December 14, 2015, we also entered into an agreement with Nanya pursuant to which we have the option to issue shares of our common stock (the "Micron Shares") to Nanya in an amount of up to 31.5 billion New Taiwan dollars (or the equivalent of approximately $1.0 billion , assuming 32.7 New Taiwan dollars per U.S. dollar)(the "Private Placement"), which will be used to fund a portion of the consideration payable in the transaction. The per-share purchase price for the Micron Shares will be equal to the New Taiwan dollar equivalent of the average of the closing price of Micron common stock during the 30 consecutive trading-day period ending 30 days prior to the consummation of the Private Placement and the transaction. The consummation of the issuance of the Micron Shares is subject to regulatory approval and various other conditions. License Agreement with Nanya On December 14, 2015, we entered into an agreement with Nanya to use reasonable best efforts to execute further definitive technology transfer and license agreements by February 12, 2016 pursuant to which Nanya would have the option to require us to transfer to Nanya certain technology and deliverables related to the next DRAM process node generation after the 20nm process node (the "1X Process Node") and the next DRAM process node generation after the 1X Process Node for Nanya's use. Under the terms of the further definitive agreements, Nanya would pay royalties to us for a license to the transferred technology based on revenues from products implementing the technology, subject to an agreed cap, and we would receive an equity interest in Nanya upon the achievement of certain milestones. We may terminate the agreement if we and Nanya do not execute the definitive technology transfer and license agreements by February 12, 2016. |
Cash and Investments
Cash and Investments | 3 Months Ended |
Dec. 03, 2015 | |
Investments [Abstract] | |
Cash and Investments [Text Block] | Cash and Investments Cash and the fair values of available-for-sale investments, which approximated amortized costs, were as follows: As of December 3, 2015 September 3, 2015 Cash and Equivalents Short-term Investments Long-term Marketable Investments (3) Total Fair Value Cash and Equivalents Short-term Investments Long-term Marketable Investments (3) Total Fair Value Cash $ 2,005 $ — $ — $ 2,005 $ 1,684 $ — $ — $ 1,684 Level 1 (1) Money market funds 278 — — 278 168 — — 168 Level 2 (2) Corporate bonds — 701 1,006 1,707 2 616 1,261 1,879 Asset-backed securities — 8 522 530 — 8 575 583 Government securities 10 246 226 482 58 391 254 703 Certificates of deposit 284 17 17 318 311 28 23 362 Commercial paper 28 64 — 92 64 191 — 255 $ 2,605 $ 1,036 $ 1,771 $ 5,412 $ 2,287 $ 1,234 $ 2,113 $ 5,634 (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 December 3, 2015 , no adjustments were made to such pricing information. (3) The maturities of long-term marketable investments generally range from one to four years. Proceeds from sales of available-for-sale securities for the first quarters of 2016 and 2015 were $407 million and $233 million , respectively. Gross realized gains and losses from sales of available-for-sale securities were not significant for any period presented. As of December 3, 2015 , there were no available-for-sale securities that had been in a loss position for longer than 12 months. |
Receivables
Receivables | 3 Months Ended |
Dec. 03, 2015 | |
Receivables [Abstract] | |
Receivables | Receivables As of December 3, September 3, Trade receivables $ 1,939 $ 2,188 Income and other taxes 87 116 Other 197 203 $ 2,223 $ 2,507 As of December 3, 2015 and September 3, 2015 , other receivables included $91 million and $120 million , respectively, due from Intel for amounts related to product design and process development activities under cost-sharing agreements for NAND Flash memory and 3D XPoint TM memory. (See "Equity – Noncontrolling Interests in Subsidiaries – IMFT" note.) |
Inventories
Inventories | 3 Months Ended |
Dec. 03, 2015 | |
Inventory Disclosure [Abstract] | |
Inventories | Inventories As of December 3, September 3, Finished goods $ 779 $ 785 Work in process 1,422 1,315 Raw materials and supplies 234 240 $ 2,435 $ 2,340 |
Property, Plant and Equipment
Property, Plant and Equipment | 3 Months Ended |
Dec. 03, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | Property, Plant, and Equipment September 3, Additions Retirements and Other December 3, Land $ 88 $ — $ — $ 88 Buildings 5,358 114 (4 ) 5,468 Equipment (1) 21,020 918 (118 ) 21,820 Construction in progress (2) 436 194 (13 ) 617 Software 373 15 — 388 27,275 1,241 (135 ) 28,381 Accumulated depreciation (16,721 ) (706 ) 106 (17,321 ) $ 10,554 $ 535 $ (29 ) $ 11,060 (1) Included costs related to equipment not placed into service of $887 million and $928 million as of December 3, 2015 and September 3, 2015 , respectively. (2) Included building-related construction and tool installation costs on assets not placed into service. Depreciation expense was $706 million and $613 million for the first quarters of 2016 and 2015 , respectively. |
Equity Method Investments
Equity Method Investments | 3 Months Ended |
Dec. 03, 2015 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments | Equity Method Investments As of December 3, 2015 September 3, 2015 Investment Balance Ownership Percentage Investment Balance Ownership Percentage Inotera (1) $ 1,296 33 % $ 1,332 33 % Tera Probe 41 40 % 38 40 % Other 14 Various 9 Various $ 1,351 $ 1,379 (1) Entity is a variable interest entity. As of December 3, 2015 , substantially all of our maximum exposure to loss from our VIEs that were not consolidated was the $1.30 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. Equity in net income (loss) of equity method investees, net of tax, included the following: Quarter ended December 3, December 4, Inotera $ 52 $ 129 Tera Probe 3 (7 ) Other 4 2 $ 59 $ 124 Inotera We have partnered with Nanya in Inotera, a Taiwan DRAM memory company, since 2009. As of December 3, 2015 , we held a 33% ownership interest in Inotera, Nanya and certain of its affiliates held a 32% ownership interest, and the remaining ownership interest in Inotera was publicly held. On December 14, 2015, we entered into an agreement to acquire the remaining interest in Inotera. (See "Planned Acquisition of Inotera and License Agreement with Nanya – Acquisition of Remaining Inotera Shares" note.) As of December 3, 2015 , the market value of our equity interest in Inotera was $1.55 billion based on the closing trading price of 23.70 New Taiwan dollars per share in an active market. As of December 3, 2015 and September 3, 2015 , there were losses of $77 million and gains of $13 million , respectively, in accumulated other comprehensive income (loss) for cumulative translation adjustments from our equity investment in Inotera. From January 2013 through December 2015, we purchased all of Inotera's DRAM output under a supply agreement at prices reflecting discounts from market prices for our comparable components. We purchased $379 million and $729 million of DRAM products from Inotera in the first quarters of 2016 and 2015, respectively, at costs higher than the costs of similar products manufactured in our wholly-owned facilities. The supply agreement with Inotera (as extended in December 2015, subsequent to the end of our first quarter of 2016) has an initial three-year term, followed by a three-year wind-down period. Upon termination of the initial three-year term, the share of Inotera's capacity we would purchase would decline over the wind-down period. Effective beginning on January 1, 2016, the price for DRAM products sold to us is based on a formula that equally shares margin between Inotera and us. Tera Probe In 2013, we acquired a 40% interest in Tera Probe, which provides semiconductor wafer testing and probe services to us and others. The initial net carrying value of our investment was less than our proportionate share of Tera Probe's equity and the difference is being amortized as a credit to our earnings through equity in net income (loss) of equity method investees (the "Tera Probe Amortization"). As of December 3, 2015 , the remaining balance of the Tera Probe Amortization was $23 million and is expected to be amortized over a weighted-average period of seven years. Based on closing trading prices, the market value of our equity interest in Tera Probe was $38 million as of December 3, 2015 and $31 million as of September 30, 2015. We evaluated our investment in Tera Probe and concluded that the decline in the market value below our carrying value did not indicate an other-than-temporary impairment primarily because of the market value improvement subsequent to September 30, 2015, the limited amount of time the market value was below carrying value, and historical volatility of Tera Probe's stock price. We incurred manufacturing costs for the first quarters of 2016 and 2015 of $21 million and $25 million , respectively, for services performed by Tera Probe. |
Intangible Assets and Goodwill
Intangible Assets and Goodwill | 3 Months Ended |
Dec. 03, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets and Goodwill | Intangible Assets and Goodwill As of December 3, 2015 September 3, 2015 Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization Amortizing assets Product and process technology $ 850 $ (423 ) $ 864 $ (416 ) Other 1 — 2 (1 ) 851 (423 ) 866 (417 ) Non-amortizing assets In-process R&D 108 — — — $ 959 $ (423 ) $ 866 $ (417 ) Goodwill (1) $ 104 $ 23 (1) Included in other noncurrent assets. During the first quarters of 2016 and 2015 , we capitalized $9 million and $12 million , respectively, for product and process technology with weighted-average useful lives of nine years and eight years, respectively. Amortization expense was $31 million and $30 million for the first quarters of 2016 and 2015 , respectively. The expected annual amortization expense for intangible assets held as of December 3, 2015 is $120 million for 2016 , $104 million for 2017 , $92 million for 2018 , $44 million for 2019 , and $28 million for 2020 . On October 2, 2015, we acquired Tidal Systems, Ltd., a developer of PCIe NAND Flash storage controllers, to enhance our NAND Flash controller technology for $148 million . In connection therewith, we recognized $108 million of in-process R&D; $81 million of goodwill, which was derived from other expected cost reductions and synergies and was assigned to our Storage Business Unit; and $41 million of deferred tax liabilities, which, in aggregate, represented substantially all of the purchase price. The in-process R&D was valued using a replacement cost approach, which included inputs of reproduction cost, including developer's profit, and opportunity cost. We will begin amortizing the in-process R&D when development is complete, which is estimated to be in 2017, and will amortize it over its then estimated useful life. The goodwill is not expected to be deductible for tax purposes. |
Accounts Payable and Accrued Ex
Accounts Payable and Accrued Expenses | 3 Months Ended |
Dec. 03, 2015 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Liabilities Disclosure | Accounts Payable and Accrued Expenses As of December 3, September 3, Accounts payable $ 1,014 $ 1,020 Property, plant, and equipment payables 803 577 Salaries, wages, and benefits 335 321 Related party payables 261 338 Income and other taxes 84 85 Other 287 270 $ 2,784 $ 2,611 As of December 3, 2015 and September 3, 2015 , related party payables included $253 million and $327 million , respectively, due to Inotera primarily for the purchase of DRAM products. As of December 3, 2015 and September 3, 2015 , related party payables also included $8 million and $11 million , respectively, due to Tera Probe for probe services performed. (See "Equity Method Investments" note.) |
Debt
Debt | 3 Months Ended |
Dec. 03, 2015 | |
Debt Disclosure [Abstract] | |
Debt | Debt December 3, 2015 September 3, 2015 Instrument (1) Stated Rate Effective Rate Current Long-Term Total Current Long-Term Total MMJ creditor installment payments N/A 6.25 % $ 160 $ 695 $ 855 $ 161 $ 701 $ 862 Capital lease obligations (2) N/A N/A 273 436 709 326 466 792 1.258% notes 1.258 % 1.97 % 87 219 306 87 217 304 2022 senior notes 5.875 % 6.14 % — 589 589 — 589 589 2023 senior notes 5.250 % 5.43 % — 989 989 — 988 988 2024 senior notes 5.250 % 5.38 % — 545 545 — 545 545 2025 senior notes 5.500 % 5.56 % — 1,138 1,138 — 1,138 1,138 2026 senior notes 5.625 % 5.73 % — 446 446 — 446 446 2032C convertible senior notes (3) 2.375 % 5.95 % — 199 199 — 197 197 2032D convertible senior notes (3) 3.125 % 6.33 % — 151 151 — 150 150 2033E convertible senior notes (3) 1.625 % 4.50 % 165 — 165 217 — 217 2033F convertible senior notes (3) 2.125 % 4.93 % 266 — 266 264 — 264 2043G convertible senior notes 3.000 % 6.76 % — 647 647 — 644 644 Other notes payable 2.462 % 2.65 % 100 272 372 34 171 205 $ 1,051 $ 6,326 $ 7,377 $ 1,089 $ 6,252 $ 7,341 (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 3.7% as of December 3, 2015 and September 3, 2015 , respectively. (3) Since the closing price of our common stock for at least 20 trading days in the 30 trading day period ending on September 30, 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 December 31, 2015. The closing price of our common stock also exceeded the thresholds for the calendar quarter ended December 31, 2015; therefore, these notes are convertible by the holders through March 31, 2016. The 2033 Notes are classified as current because the terms of these notes also require us to pay cash for the principal amount of any converted notes. 2016 Debt Restructure During the first quarter of 2016, we repurchased portions of our 2033E Notes. The liability and equity components of the repurchased notes had previously been stated separately within debt and equity in our consolidated balance sheet. As a result, our accounting for the repurchased notes affected debt and equity. The following table presents the effect of the repurchases: Decrease in Principal Decrease in Carrying Value Decrease in Cash Decrease in Equity Loss (1) Repurchases of 2033E Notes $ (57 ) $ (54 ) $ (94 ) $ (38 ) $ (1 ) (1) Included in other non-operating expense. 2015 Debt Restructure Throughout 2015, we consummated a number of transactions to restructure our debt, including conversions and settlements, repurchases of convertible notes, and the early repayment of a note. The following table presents the effect of each of the actions in the first quarter of 2015: Decrease in Principal Decrease in Carrying Value Decrease in Cash Decrease in Equity Loss (1) Conversions and settlements $ (120 ) $ (367 ) $ (407 ) $ (14 ) $ (22 ) Repurchases (36 ) (30 ) (125 ) (92 ) (3 ) Early repayment (121 ) (115 ) (122 ) — (5 ) $ (277 ) $ (512 ) $ (654 ) $ (106 ) $ (30 ) (1) Included in other non-operating expense. • Conversions and Settlements : Holders of substantially all of our remaining 2031B Notes with an aggregate principal amount of $114 million converted their notes in August 2014. As a result of our election to settle the conversion amounts entirely in cash, the settlement obligations became derivative debt liabilities, increasing the carrying value of the 2031B Notes by $275 million in 2014 before being settled in 2015 for an aggregate of $389 million in cash. Additionally, a holder converted $6 million principal amount of our 2033E Notes and we settled the conversion in cash for $18 million . • Repurchases : Repurchased $36 million in aggregate principal amount of our 2032C and 2032D Notes for an aggregate of $125 million . • Early Repayment : Repaid a note with a principal amount of $121 million prior to its scheduled maturity. Capital Lease Obligations In the first quarter of 2016, we recorded capital lease obligations aggregating $20 million at a weighted-average effective interest rate of 5.0% , payable in periodic installments through August 2031. In December 2015, subsequent to our first quarter of 2016, we recorded capital lease obligations aggregating $424 million related to equipment sale-leaseback transactions at a weighted-average effective interest rate of 2.7% , payable in periodic installments through December 2020. Convertible Senior Notes As of December 3, 2015 , the trading price of our common stock was higher than the initial 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 December 3, 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 $ 138 2032D Notes May 2021 177 18 9.98 12.97 100 2033E Notes February 2018 176 16 10.93 14.21 75 2033F Notes February 2020 297 27 10.93 14.21 127 2043G Notes (4) November 2028 1,025 35 29.16 37.91 — $ 1,899 119 $ 440 (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 maturity at a price equal to the principal amount thereof plus accrued interest. (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 September 30, 2015 for our 2032 Notes and 2033 Notes; therefore, those notes were convertible by the holders through December 31, 2015. The closing price of our common stock also exceeded the thresholds for the calendar quarter ended December 31, 2015; therefore, these notes are convertible by the holders through March 31, 2016. (3) Based on our closing share price of $15.61 as of December 3, 2015 . (4) The original principal amount of $820 million accretes up to $917 million in November 2028 and $1.03 billion at maturity in 2043. Other Facilities On December 1, 2015, we drew the remaining $174 million under our term loan agreement entered into on May 28, 2015. Amounts drawn are collateralized by certain property, plant, and equipment and are subject to a three -year loan with equal quarterly principal payments beginning December 2015 and accrue interest at a variable rate equal to the three -month LIBOR plus a margin not to exceed 2.2% . As of December 3, 2015 , the outstanding balance was $213 million . Maturities of Notes Payable and Future Minimum Lease Payments The following presents, as of December 3, 2015 , maturities of notes payable (including the MMJ Creditor Installment Payments) and future minimum lease payments under capital lease obligations. Maturities for the 2033 Notes are presented in 2018 and 2020 based on the earliest date that the holders can put them to us even though they were classified in our accompanying balance sheets as current, which was based on their convertibility. Notes Payable Capital Lease Obligations Remainder of 2016 $ 329 $ 241 2017 348 176 2018 507 129 2019 502 91 2020 695 32 2021 and thereafter 4,844 110 Unamortized amounts and interest, respectively (557 ) (70 ) $ 6,668 $ 709 |
Contingencies
Contingencies | 3 Months Ended |
Dec. 03, 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-tech 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 November 21, 2014, Elm 3DS Innovations, LLC ("Elm") filed a patent infringement action against Micron, 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, and certain other memory products we manufacture, which account for a significant portion of our net sales. We are unable to predict the outcome of assertions of infringement made against us and therefore cannot estimate the range of possible loss. A determination that our products or manufacturing processes infringe the intellectual property rights of others or entering into a license agreement covering such intellectual property could result in significant liability and/or require us to make material changes to our products and/or manufacturing processes. Any of the foregoing could have a material adverse effect on our business, results of operations, or financial condition. Qimonda On January 20, 2011, Dr. Michael Jaffé, administrator for Qimonda insolvency proceedings, filed suit against Micron and Micron Semiconductor B.V., our Netherlands subsidiary ("Micron B.V."), in the District Court of Munich, Civil Chamber. The complaint seeks to void under Section 133 of the German Insolvency Act a share purchase agreement between Micron B.V. and Qimonda signed in fall 2008 pursuant to which Micron B.V. purchased substantially all of Qimonda's shares of Inotera Memories, Inc. (the "Inotera Shares"), which represents approximately 55% of our total shares in Inotera as of December 3, 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 Micron for any damages relating to the joint venture relationship with Inotera; and (5) determining that Qimonda's obligations under the patent cross-license agreement are canceled. In addition, the Court issued interlocutory judgments ordering, among other things: (1) that Micron B.V. transfer to the Qimonda estate the Inotera Shares still owned by 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. 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 December 3, 2015, the Inotera Shares had a carrying value in equity method investments of $664 million and a market value of $855 million. 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 | 3 Months Ended |
Dec. 03, 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 December 3, 2015 and September 3, 2015 . Therefore, the 2033 Notes were classified as current debt and the aggregate difference between the principal amount and the carrying value of $42 million as of December 3, 2015 and $49 million as of September 3, 2015 was classified as redeemable convertible notes in the accompanying consolidated balance sheets. (See "Debt" note.) |
Equity
Equity | 3 Months Ended |
Dec. 03, 2015 | |
Equity [Abstract] | |
Equity | Equity Changes in the components of equity were as follows: Quarter Ended December 3, 2015 Quarter Ended December 4, 2014 Attributable to Micron Noncontrolling Interests Total Equity Attributable to Micron Noncontrolling Interests Total Equity Beginning balance $ 12,302 $ 937 $ 13,239 $ 10,771 $ 802 $ 11,573 Net income 206 — 206 1,003 (1 ) 1,002 Other comprehensive income (loss) (103 ) — (103 ) (21 ) — (21 ) Comprehensive income (loss) 103 — 103 982 (1 ) 981 Contributions from noncontrolling interests — 37 37 — 20 20 Distributions to noncontrolling interests — — — — (6 ) (6 ) Capital and other transactions attributable to Micron (104 ) — (104 ) (75 ) — (75 ) Ending balance $ 12,301 $ 974 $ 13,275 $ 11,678 $ 815 $ 12,493 Micron Shareholders' Equity Common Stock Repurchases: Since the first quarter of 2015, our Board of Directors has authorized the discretionary repurchase of up to $1.25 billion of our outstanding common stock, $250 million of which was authorized in the first quarter of 2016. Any repurchases under the authorization may be made in open market purchases, block trades, privately-negotiated transactions, or derivative transactions. Repurchases are subject to market conditions and our ongoing determination of the best use of available cash. During the first quarter of 2016, we repurchased 7 million shares for $125 million (including commissions) through open-market transactions, which were recorded as treasury stock. Since the beginning of 2015, we have repurchased a total of 49 million shares for $956 million (including commissions). 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 $13.17 to $16.04 ), which were intended to reduce the effect of potential dilution from our convertible notes. The capped calls provide for our receipt of cash or shares, at our election, from our counterparties if the trading price of our stock is above strike prices on various dates ranging from January 2016 to February 2020, the expiration dates of the capped calls. The amounts receivable vary based on the trading price of our stock, up to cap prices. The dollar value of the cash or shares that we would receive from the capped calls upon their expiration date ranges from $0 if the trading price of our stock is below the strike prices for all of the capped calls to $814 million if the trading price of our stock is at or above the cap price for all of the capped calls. Accumulated Other Comprehensive Income (Loss): Changes in accumulated other comprehensive income (loss) by component for the quarter ended December 3, 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 September 3, 2015 $ — $ (5 ) $ (3 ) $ 21 $ 13 Other comprehensive income (loss) before reclassifications (90 ) (4 ) (3 ) (8 ) (105 ) Amount reclassified out of accumulated other comprehensive income — (1 ) — — (1 ) Tax effects — 1 — 2 3 Other comprehensive income (loss) (90 ) (4 ) (3 ) (6 ) (103 ) Balance as of December 3, 2015 $ (90 ) $ (9 ) $ (6 ) $ 15 $ (90 ) Noncontrolling Interests in Subsidiaries As of December 3, 2015 September 3, 2015 Noncontrolling Interest Balance Noncontrolling Interest Percentage Noncontrolling Interest Balance Noncontrolling Interest Percentage IMFT (1) $ 866 49 % $ 829 49 % MP Mask (1) 93 50 % 93 50 % Other 15 Various 15 Various $ 974 $ 937 (1) Entity is a variable interest entity. IMFT: Since inception in 2006, we have owned 51% of IMFT, a joint venture between us and Intel to manufacture NAND Flash and 3D XPoint memory products for the exclusive use of 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. On January 5, 2016, we amended the Second Amended and Restated Operating Agreement with Intel related to the IMFT joint venture to change the dates of those buy-sell rights. Pursuant to this amendment, commencing in January 2016, Intel can put to us, and commencing in January 2019, we can call from Intel, Intel's interest in IMFT, in either case, for an amount equal to the noncontrolling interest balance attributable to Intel at such time. 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 memory products using designs and technology we develop with Intel. We generally share with Intel the costs of product design and process development activities for NAND Flash and 3D XPoint memory. Our R&D expenses were reduced by reimbursements from Intel of $46 million and $54 million for the first quarters of 2016 and 2015 , respectively. We sell a portion of our products to Intel through our IMFT joint venture at long-term negotiated prices approximating cost. Sales of products to Intel under this arrangement were $115 million and $108 million for the first quarters of 2016 and 2015 , respectively. Receivables from Intel as of December 3, 2015 and September 3, 2015 were $75 million and $67 million , respectively, for these sales. The following table presents the assets and liabilities of IMFT included in our consolidated balance sheets: As of December 3, September 3, Assets Cash and equivalents $ 140 $ 134 Receivables 88 79 Inventories 64 65 Other current assets 6 7 Total current assets 298 285 Property, plant, and equipment, net 1,777 1,768 Other noncurrent assets 53 49 Total assets $ 2,128 $ 2,102 Liabilities Accounts payable and accrued expenses $ 139 $ 182 Deferred income 10 9 Current debt 20 22 Total current liabilities 169 213 Long-term debt 45 49 Other noncurrent liabilities 96 100 Total liabilities $ 310 $ 362 Amounts exclude intercompany balances that were eliminated in our consolidated balance sheets. Creditors of IMFT have recourse only to IMFT's assets and do not have recourse to any other of our assets. The following table presents IMFT's distributions to and contributions from its shareholders: Quarter ended December 3, December 4, IMFT distributions to Micron $ — $ 6 IMFT distributions to Intel — 6 Micron contributions to IMFT 38 21 Intel contributions to IMFT 37 20 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 and Photronics have each 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: As of 2016 2015 Current assets $ 23 $ 21 Noncurrent assets (primarily property, plant, and equipment) 171 180 Current liabilities 13 21 Amounts exclude intercompany balances that were eliminated in our consolidated balance sheets. Creditors of MP Mask have recourse only to MP Mask's assets and do not have recourse to any other of our assets. 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 continue, 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 December 3, 2015 were $2.96 billion for the MMJ Group and $952 million for IMFT, which included cash and equivalents of $951 million for the MMJ Group and $140 million for IMFT. As of December 3, 2015 , our retained earnings included undistributed earnings from our equity method investees of $291 million . |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Dec. 03, 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 (excluding equity method investments) were classified as available-for-sale and carried at fair value. In addition to the fair value measurements disclosed in "Cash and Investments" as of December 3, 2015 and September 3, 2015 , we had certificates of deposit classified as restricted cash (included in other noncurrent assets) of $51 million and $45 million , respectively, valued using Level 2 fair value measurements. In connection with our repurchases of debt in the first quarter of 2016, 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 equity components of our convertible notes) were as follows: As of December 3, 2015 September 3, 2015 Fair Value Carrying Value Fair Value Carrying Value Notes and MMJ creditor installment payments $ 5,169 $ 5,240 $ 5,020 $ 5,077 Convertible notes 2,360 1,428 2,508 1,472 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 Financial Instrument
Derivative Financial Instruments | 3 Months Ended |
Dec. 03, 2015 | |
Derivative Instrument Detail [Abstract] | |
Derivative Financial 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: To hedge our exposures of monetary assets and liabilities to changes in currency exchange rates, we generally utilize a rolling hedge strategy with currency forward contracts that mature within 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 quarters of 2016 and 2015, we paid $21 million and $33 million , respectively, upon settlement of the 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 the first quarter of 2015, we settled conversions of our remaining outstanding 2031B notes and holders elected to convert a portion of the 2033E 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 holders of our intention to settle the obligations 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 notional amounts and gross fair values for derivative instruments without hedge accounting designation were as follows: Notional Amount (in U.S. dollars) Fair Value of Current Assets (1) Current Liabilities (2) As of December 3, 2015 Yen $ 919 $ — $ (4 ) Singapore dollar 229 — (1 ) New Taiwan dollar 35 — — Shekel 28 — — Euro 17 — — British Pound 16 — — Yuan 15 — — $ 1,259 $ — $ (5 ) As of September 3, 2015 Yen $ 928 $ — $ (24 ) Singapore dollar 282 — — New Taiwan dollar 89 — — Shekel 27 — — Euro 29 — — British Pound 19 — — Yuan 32 1 — $ 1,406 $ 1 $ (24 ) (1) Included in receivables – other. (2) Included in accounts payable and accrued expenses – other. Net gains (losses) for derivative instruments without hedge accounting designation were included in other non-operating income (expense), net as follows: Quarter ended December 3, December 4, Foreign exchange contracts $ (21 ) $ (58 ) Convertible notes settlement obligations — 6 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 operations 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 notional amounts and gross fair values for derivative instruments with cash flow hedge accounting designation were as follows: Notional Amount (in U.S. Dollars) Fair Value of Current Assets (1) Current Liabilities (2) As of December 3, 2015 Yen $ 102 $ 1 $ (2 ) As of September 3, 2015 Yen $ 81 $ 3 $ — Euro 12 — — $ 93 $ 3 $ — (1) Included in receivables – other. (2) Included in accounts payable and accrued expenses – other. For the first quarters of 2016 and 2015 , we recognized losses of $4 million and $15 million , respectively, in accumulated other comprehensive income (loss) from the effective portion of cash flow hedges. The ineffective and excluded portions of cash flow hedges recognized in other non-operating income (expense) were not significant in the first quarters of 2016 and 2015. For the first quarters of 2016 and 2015 , we reclassified gains of $1 million and $2 million , respectively, from accumulated other comprehensive income (loss) to earnings. As of December 3, 2015 , $1 million of net gains from cash flow hedges included in accumulated other comprehensive income (loss) is expected to be reclassified into earnings in the next 12 months. |
Equity Plans
Equity Plans | 3 Months Ended |
Dec. 03, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Plans | Equity Plans As of December 3, 2015 , our equity plans permit us to issue an aggregate of up to 163 million shares of common stock, of which 103 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 December 3, December 4, Stock options granted 2 1 Weighted-average grant-date fair value per share $ 7.99 $ 13.20 Average expected life in years 5.6 5.7 Weighted-average expected volatility 46 % 47 % Weighted-average risk-free interest rate 1.5 % 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 December 3, 2015 , there were 16 million shares of Restricted Stock Awards outstanding, of which 2 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 was as follows: Quarter ended December 3, December 4, Restricted stock awards granted 3 2 Weighted-average grant-date fair value per share $ 18.52 $ 30.17 Stock-based Compensation Expense As of December 3, 2015 , $405 million of total unrecognized compensation costs for unvested awards, net of estimated forfeitures, was expected to be recognized through the first quarter of 2020 , resulting in a weighted-average period of 1.3 years. Stock-based compensation expense in the below presentation does not reflect any significant income tax benefits, which is consistent with our treatment of income or loss from our U.S. operations: Quarter ended December 3, December 4, Stock-based compensation expense by caption Cost of goods sold $ 17 $ 12 Selling, general, and administrative 18 15 Research and development 11 8 $ 46 $ 35 Stock-based compensation expense by type of award Stock options $ 20 $ 18 Restricted stock awards 26 17 $ 46 $ 35 |
Other Operating (Income) Expens
Other Operating (Income) Expense, Net | 3 Months Ended |
Dec. 03, 2015 | |
Other Income and Expenses [Abstract] | |
Other Operating (Income) Expense, Net | Other Operating (Income) Expense, Net Quarter ended December 3, December 4, Restructure and asset impairments $ 15 $ 1 (Gain) loss on disposition of property, plant, and equipment 2 (6 ) Other — (11 ) $ 17 $ (16 ) In the first quarter of 2016, we recorded $9 million of charges for the restructure of manufacturing activities in Agrate, Italy and $5 million of severance benefits and equipment-related retirement and impairment costs to close our module assembly and test facility in Aguadilla, Puerto Rico. As of December 3, 2015 , we do not anticipate incurring significant additional costs for these restructure activities. |
Other Non-Operating Income, Net
Other Non-Operating Income, Net | 3 Months Ended |
Dec. 03, 2015 | |
Other Nonoperating Income (Expense) [Abstract] | |
Other Non-Operating Income Expense, Net [Text Block] | Other Non-Operating Income (Expense), Net Quarter ended December 3, December 4, Gain (loss) from changes in currency exchange rates $ (3 ) $ (21 ) Loss on restructure of debt (1 ) (30 ) Other — 2 $ (4 ) $ (49 ) |
Income Taxes
Income Taxes | 3 Months Ended |
Dec. 03, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes Income taxes for the first quarters of 2016 and 2015 included a provision of $22 million and $38 million , respectively, related to changes in amounts of net deferred tax assets associated with MMJ and MMT. Income taxes for the first quarter of 2016 also included a benefit of $41 million related to a U.S. valuation allowance release resulting from the acquisition of Tidal Systems, Ltd. Remaining taxes for the first quarters of 2016 and 2015 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 allowance. The amount of the deferred tax asset considered realizable could be adjusted if sufficient positive evidence exists. Income taxes on U.S. operations in the first quarters of 2016 and 2015 were substantially offset by changes in the valuation allowance. The resolution of tax audits or lapses of statute of limitations could 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 $68 million , including interest and penalties. We operate in tax jurisdictions, including Singapore and Taiwan, where our earnings are indefinitely reinvested and are taxed at lower effective tax rates than the U.S. statutory rate. We operate in a number of locations outside the U.S., including Singapore and, to a lesser extent, Taiwan, where we have tax incentive arrangements that are conditional, in part, upon meeting certain business operations and employment thresholds. The effect of tax incentive arrangements, which expire in whole or in part at various dates through 2030, reduced our tax provision for the first quarters of 2016 and 2015 by $12 million (benefitting our diluted earnings per share by $0.01 ) and by $140 million ( $0.12 per diluted share), respectively. |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Dec. 03, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Quarter ended December 3, December 4, Net income available to Micron shareholders – Basic $ 206 $ 1,003 Dilutive effect related to equity method investment — (1 ) Net income available to Micron shareholders – Diluted $ 206 $ 1,002 Weighted-average common shares outstanding – Basic 1,035 1,070 Dilutive effect of equity plans and convertible notes 50 125 Weighted-average common shares outstanding – Diluted 1,085 1,195 Earnings per share Basic $ 0.20 $ 0.94 Diluted 0.19 0.84 Antidilutive potential common shares that could dilute basic earnings per share in the future were 66 million and 9 million for the first quarters of 2016 and 2015 , respectively. |
Segment Information
Segment Information | 3 Months Ended |
Dec. 03, 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 maker. We have the following four business units, which are our reportable segments: Compute and Networking Business Unit ("CNBU"): Includes memory products sold into compute, networking, graphics, and cloud server markets. Storage Business Unit ("SBU"): Includes memory products sold into enterprise, client, cloud, and removable storage markets. SBU also includes products sold to Intel through our IMFT joint venture. Mobile Business Unit ("MBU"): Includes memory products sold into smartphone, tablet, and other mobile-device markets. Embedded Business Unit ("EBU"): Includes memory products sold into automotive, industrial, connected home, and consumer electronics markets. Certain operating expenses directly associated with the activities of a specific segment are charged to that segment. Other indirect operating expenses (income) are generally allocated to segments based on their respective percentage of cost of goods sold or forecasted wafer production. 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 December 3, December 4, Net sales CNBU $ 1,139 $ 2,088 SBU 884 984 MBU 834 940 EBU 479 539 All Other 14 22 $ 3,350 $ 4,573 Operating income (loss) CNBU $ 14 $ 623 SBU (33 ) 26 MBU 135 306 EBU 113 118 All Other 3 12 $ 232 $ 1,085 |
Certain Concentrations
Certain Concentrations | 3 Months Ended |
Dec. 03, 2015 | |
Risks and Uncertainties [Abstract] | |
Certain Concentrations | Certain Concentrations Customer concentrations included net sales to Intel of 11% for the first quarter of 2016. |
Business and Basis of Present31
Business and Basis of Presentation (Policies) | 3 Months Ended |
Dec. 03, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation | The accompanying consolidated 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 |
Reclassifications | Certain reclassifications have been made to prior period amounts to conform to current period presentation. |
Fiscal Period | Our fiscal year is the 52 or 53-week period ending on the Thursday closest to August 31. Fiscal year 2016 contains 52 weeks and the first quarter of fiscal 2016, which ended on December 3, 2015 , contained 13 weeks. Fiscal year 2015 contained 53 weeks and the first quarter of fiscal 2015, which ended on December 4, 2014 , contained 14 weeks. All period references are to our fiscal periods unless otherwise indicated. |
Variable Interest Entities (Pol
Variable Interest Entities (Policies) | 3 Months Ended |
Dec. 03, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Variable Interest Entities | We have interests in entities that are VIEs. If we are the primary beneficiary of a VIE, we are required to consolidate it. To determine if we are the primary beneficiary, we evaluate whether we have the power to direct the activities that most significantly impact the VIE's economic performance and the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. Our evaluation includes identification of significant activities and an assessment of our ability to direct those activities based on governance provisions and arrangements to provide or receive product and process technology, product supply, operations services, equity funding, financing, and other applicable agreements and circumstances. Our assessments of whether we are the primary beneficiary of our VIEs require significant assumptions and judgments. |
Cash and Investments (Tables)
Cash and Investments (Tables) | 3 Months Ended |
Dec. 03, 2015 | |
Investments [Abstract] | |
Cash and the fair values of our available-for-sale investments [Table Text Block] | Cash and the fair values of available-for-sale investments, which approximated amortized costs, were as follows: As of December 3, 2015 September 3, 2015 Cash and Equivalents Short-term Investments Long-term Marketable Investments (3) Total Fair Value Cash and Equivalents Short-term Investments Long-term Marketable Investments (3) Total Fair Value Cash $ 2,005 $ — $ — $ 2,005 $ 1,684 $ — $ — $ 1,684 Level 1 (1) Money market funds 278 — — 278 168 — — 168 Level 2 (2) Corporate bonds — 701 1,006 1,707 2 616 1,261 1,879 Asset-backed securities — 8 522 530 — 8 575 583 Government securities 10 246 226 482 58 391 254 703 Certificates of deposit 284 17 17 318 311 28 23 362 Commercial paper 28 64 — 92 64 191 — 255 $ 2,605 $ 1,036 $ 1,771 $ 5,412 $ 2,287 $ 1,234 $ 2,113 $ 5,634 (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 December 3, 2015 , no adjustments were made to such pricing information. (3) The maturities of long-term marketable investments generally range from one to four years. |
Receivables (Tables)
Receivables (Tables) | 3 Months Ended |
Dec. 03, 2015 | |
Receivables [Abstract] | |
Schedule of Receivables | As of December 3, September 3, Trade receivables $ 1,939 $ 2,188 Income and other taxes 87 116 Other 197 203 $ 2,223 $ 2,507 |
Inventories (Tables)
Inventories (Tables) | 3 Months Ended |
Dec. 03, 2015 | |
Inventory Disclosure [Abstract] | |
Schedule Of Inventory | As of December 3, September 3, Finished goods $ 779 $ 785 Work in process 1,422 1,315 Raw materials and supplies 234 240 $ 2,435 $ 2,340 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 3 Months Ended |
Dec. 03, 2015 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment | September 3, Additions Retirements and Other December 3, Land $ 88 $ — $ — $ 88 Buildings 5,358 114 (4 ) 5,468 Equipment (1) 21,020 918 (118 ) 21,820 Construction in progress (2) 436 194 (13 ) 617 Software 373 15 — 388 27,275 1,241 (135 ) 28,381 Accumulated depreciation (16,721 ) (706 ) 106 (17,321 ) $ 10,554 $ 535 $ (29 ) $ 11,060 (1) Included costs related to equipment not placed into service of $887 million and $928 million as of December 3, 2015 and September 3, 2015 , respectively. (2) Included building-related construction and tool installation costs on assets not placed into service. |
Equity Method Investments (Tabl
Equity Method Investments (Tables) | 3 Months Ended |
Dec. 03, 2015 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments | As of December 3, 2015 September 3, 2015 Investment Balance Ownership Percentage Investment Balance Ownership Percentage Inotera (1) $ 1,296 33 % $ 1,332 33 % Tera Probe 41 40 % 38 40 % Other 14 Various 9 Various $ 1,351 $ 1,379 (1) Entity is a variable interest entity. As of December 3, 2015 , substantially all of our maximum exposure to loss from our VIEs that were not consolidated was the $1.30 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. Equity in net income (loss) of equity method investees, net of tax, included the following: Quarter ended December 3, December 4, Inotera $ 52 $ 129 Tera Probe 3 (7 ) Other 4 2 $ 59 $ 124 |
Intangible Assets and Goodwill
Intangible Assets and Goodwill (Tables) | 3 Months Ended |
Dec. 03, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets and Goodwill | As of December 3, 2015 September 3, 2015 Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization Amortizing assets Product and process technology $ 850 $ (423 ) $ 864 $ (416 ) Other 1 — 2 (1 ) 851 (423 ) 866 (417 ) Non-amortizing assets In-process R&D 108 — — — $ 959 $ (423 ) $ 866 $ (417 ) Goodwill (1) $ 104 $ 23 (1) Included in other noncurrent assets. |
Accounts Payable and Accrued 39
Accounts Payable and Accrued Expenses (Tables) | 3 Months Ended |
Dec. 03, 2015 | |
Payables and Accruals [Abstract] | |
Accounts Payable And Accrued Liabilities Schedule | As of December 3, September 3, Accounts payable $ 1,014 $ 1,020 Property, plant, and equipment payables 803 577 Salaries, wages, and benefits 335 321 Related party payables 261 338 Income and other taxes 84 85 Other 287 270 $ 2,784 $ 2,611 |
Debt (Tables)
Debt (Tables) | 3 Months Ended |
Dec. 03, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Debt | December 3, 2015 September 3, 2015 Instrument (1) Stated Rate Effective Rate Current Long-Term Total Current Long-Term Total MMJ creditor installment payments N/A 6.25 % $ 160 $ 695 $ 855 $ 161 $ 701 $ 862 Capital lease obligations (2) N/A N/A 273 436 709 326 466 792 1.258% notes 1.258 % 1.97 % 87 219 306 87 217 304 2022 senior notes 5.875 % 6.14 % — 589 589 — 589 589 2023 senior notes 5.250 % 5.43 % — 989 989 — 988 988 2024 senior notes 5.250 % 5.38 % — 545 545 — 545 545 2025 senior notes 5.500 % 5.56 % — 1,138 1,138 — 1,138 1,138 2026 senior notes 5.625 % 5.73 % — 446 446 — 446 446 2032C convertible senior notes (3) 2.375 % 5.95 % — 199 199 — 197 197 2032D convertible senior notes (3) 3.125 % 6.33 % — 151 151 — 150 150 2033E convertible senior notes (3) 1.625 % 4.50 % 165 — 165 217 — 217 2033F convertible senior notes (3) 2.125 % 4.93 % 266 — 266 264 — 264 2043G convertible senior notes 3.000 % 6.76 % — 647 647 — 644 644 Other notes payable 2.462 % 2.65 % 100 272 372 34 171 205 $ 1,051 $ 6,326 $ 7,377 $ 1,089 $ 6,252 $ 7,341 (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 3.7% as of December 3, 2015 and September 3, 2015 , respectively. (3) Since the closing price of our common stock for at least 20 trading days in the 30 trading day period ending on September 30, 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 December 31, 2015. The closing price of our common stock also exceeded the thresholds for the calendar quarter ended December 31, 2015; therefore, these notes are convertible by the holders through March 31, 2016. The 2033 Notes are classified as current because the terms of these notes also require us to pay cash for the principal amount of any converted notes. |
Schedule of Extinguishment of Debt [Table Text Block] | 2016 Debt Restructure During the first quarter of 2016, we repurchased portions of our 2033E Notes. The liability and equity components of the repurchased notes had previously been stated separately within debt and equity in our consolidated balance sheet. As a result, our accounting for the repurchased notes affected debt and equity. The following table presents the effect of the repurchases: Decrease in Principal Decrease in Carrying Value Decrease in Cash Decrease in Equity Loss (1) Repurchases of 2033E Notes $ (57 ) $ (54 ) $ (94 ) $ (38 ) $ (1 ) (1) Included in other non-operating expense. 2015 Debt Restructure Throughout 2015, we consummated a number of transactions to restructure our debt, including conversions and settlements, repurchases of convertible notes, and the early repayment of a note. The following table presents the effect of each of the actions in the first quarter of 2015: Decrease in Principal Decrease in Carrying Value Decrease in Cash Decrease in Equity Loss (1) Conversions and settlements $ (120 ) $ (367 ) $ (407 ) $ (14 ) $ (22 ) Repurchases (36 ) (30 ) (125 ) (92 ) (3 ) Early repayment (121 ) (115 ) (122 ) — (5 ) $ (277 ) $ (512 ) $ (654 ) $ (106 ) $ (30 ) (1) Included in other non-operating expense. |
Schedule Of Convertible Debt Instruments With Debt And Equity Components [Text Block] | The following table summarizes our convertible notes outstanding as of December 3, 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 $ 138 2032D Notes May 2021 177 18 9.98 12.97 100 2033E Notes February 2018 176 16 10.93 14.21 75 2033F Notes February 2020 297 27 10.93 14.21 127 2043G Notes (4) November 2028 1,025 35 29.16 37.91 — $ 1,899 119 $ 440 (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 maturity at a price equal to the principal amount thereof plus accrued interest. (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 September 30, 2015 for our 2032 Notes and 2033 Notes; therefore, those notes were convertible by the holders through December 31, 2015. The closing price of our common stock also exceeded the thresholds for the calendar quarter ended December 31, 2015; therefore, these notes are convertible by the holders through March 31, 2016. (3) Based on our closing share price of $15.61 as of December 3, 2015 . (4) The original principal amount of $820 million accretes up to $917 million in November 2028 and $1.03 billion at maturity in 2043. |
Maturities of Notes Payable and Future Minimum Lease Payments [Table Text Block] | The following presents, as of December 3, 2015 , maturities of notes payable (including the MMJ Creditor Installment Payments) and future minimum lease payments under capital lease obligations. Maturities for the 2033 Notes are presented in 2018 and 2020 based on the earliest date that the holders can put them to us even though they were classified in our accompanying balance sheets as current, which was based on their convertibility. Notes Payable Capital Lease Obligations Remainder of 2016 $ 329 $ 241 2017 348 176 2018 507 129 2019 502 91 2020 695 32 2021 and thereafter 4,844 110 Unamortized amounts and interest, respectively (557 ) (70 ) $ 6,668 $ 709 |
Equity (Tables)
Equity (Tables) | 3 Months Ended |
Dec. 03, 2015 | |
Variable Interest Entity [Line Items] | |
Schedule of Stockholders Equity [Table Text Block] | Changes in the components of equity were as follows: Quarter Ended December 3, 2015 Quarter Ended December 4, 2014 Attributable to Micron Noncontrolling Interests Total Equity Attributable to Micron Noncontrolling Interests Total Equity Beginning balance $ 12,302 $ 937 $ 13,239 $ 10,771 $ 802 $ 11,573 Net income 206 — 206 1,003 (1 ) 1,002 Other comprehensive income (loss) (103 ) — (103 ) (21 ) — (21 ) Comprehensive income (loss) 103 — 103 982 (1 ) 981 Contributions from noncontrolling interests — 37 37 — 20 20 Distributions to noncontrolling interests — — — — (6 ) (6 ) Capital and other transactions attributable to Micron (104 ) — (104 ) (75 ) — (75 ) Ending balance $ 12,301 $ 974 $ 13,275 $ 11,678 $ 815 $ 12,493 |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Changes in accumulated other comprehensive income (loss) by component for the quarter ended December 3, 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 September 3, 2015 $ — $ (5 ) $ (3 ) $ 21 $ 13 Other comprehensive income (loss) before reclassifications (90 ) (4 ) (3 ) (8 ) (105 ) Amount reclassified out of accumulated other comprehensive income — (1 ) — — (1 ) Tax effects — 1 — 2 3 Other comprehensive income (loss) (90 ) (4 ) (3 ) (6 ) (103 ) Balance as of December 3, 2015 $ (90 ) $ (9 ) $ (6 ) $ 15 $ (90 ) |
Schedule of Noncontrolling Interests In Subsidiaries [Table Text Block] | As of December 3, 2015 September 3, 2015 Noncontrolling Interest Balance Noncontrolling Interest Percentage Noncontrolling Interest Balance Noncontrolling Interest Percentage IMFT (1) $ 866 49 % $ 829 49 % MP Mask (1) 93 50 % 93 50 % Other 15 Various 15 Various $ 974 $ 937 (1) Entity is a variable interest entity. |
IM Flash Technologies, LLC [Member] | |
Variable Interest Entity [Line Items] | |
IMFT's distributions to and contributions from its shareholders | The following table presents IMFT's distributions to and contributions from its shareholders: Quarter ended December 3, December 4, IMFT distributions to Micron $ — $ 6 IMFT distributions to Intel — 6 Micron contributions to IMFT 38 21 Intel contributions to IMFT 37 20 |
Total IMFT and MP Mask assets and liabilities | The following table presents the assets and liabilities of IMFT included in our consolidated balance sheets: As of December 3, September 3, Assets Cash and equivalents $ 140 $ 134 Receivables 88 79 Inventories 64 65 Other current assets 6 7 Total current assets 298 285 Property, plant, and equipment, net 1,777 1,768 Other noncurrent assets 53 49 Total assets $ 2,128 $ 2,102 Liabilities Accounts payable and accrued expenses $ 139 $ 182 Deferred income 10 9 Current debt 20 22 Total current liabilities 169 213 Long-term debt 45 49 Other noncurrent liabilities 96 100 Total liabilities $ 310 $ 362 Amounts exclude intercompany balances that were eliminated in our consolidated balance sheets. |
MP Mask Technology Center LLC [Member] | |
Variable Interest Entity [Line Items] | |
Total IMFT and MP Mask assets and liabilities | The assets and liabilities of MP Mask included in our consolidated balance sheets were as follows: As of 2016 2015 Current assets $ 23 $ 21 Noncurrent assets (primarily property, plant, and equipment) 171 180 Current liabilities 13 21 Amounts exclude intercompany balances that were eliminated in our consolidated balance sheets. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Dec. 03, 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 equity components of our convertible notes) were as follows: As of December 3, 2015 September 3, 2015 Fair Value Carrying Value Fair Value Carrying Value Notes and MMJ creditor installment payments $ 5,169 $ 5,240 $ 5,020 $ 5,077 Convertible notes 2,360 1,428 2,508 1,472 |
Derivative Financial Instrume43
Derivative Financial Instruments (Tables) | 3 Months Ended |
Dec. 03, 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 notional amounts and gross fair values for derivative instruments without hedge accounting designation were as follows: Notional Amount (in U.S. dollars) Fair Value of Current Assets (1) Current Liabilities (2) As of December 3, 2015 Yen $ 919 $ — $ (4 ) Singapore dollar 229 — (1 ) New Taiwan dollar 35 — — Shekel 28 — — Euro 17 — — British Pound 16 — — Yuan 15 — — $ 1,259 $ — $ (5 ) As of September 3, 2015 Yen $ 928 $ — $ (24 ) Singapore dollar 282 — — New Taiwan dollar 89 — — Shekel 27 — — Euro 29 — — British Pound 19 — — Yuan 32 1 — $ 1,406 $ 1 $ (24 ) (1) Included in receivables – other. (2) Included in accounts payable and accrued expenses – other. Net gains (losses) for derivative instruments without hedge accounting designation were included in other non-operating income (expense), net as follows: Quarter ended December 3, December 4, Foreign exchange contracts $ (21 ) $ (58 ) Convertible notes settlement obligations — 6 |
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | Total notional amounts and gross fair values for derivative instruments with cash flow hedge accounting designation were as follows: Notional Amount (in U.S. Dollars) Fair Value of Current Assets (1) Current Liabilities (2) As of December 3, 2015 Yen $ 102 $ 1 $ (2 ) As of September 3, 2015 Yen $ 81 $ 3 $ — Euro 12 — — $ 93 $ 3 $ — (1) Included in receivables – other. (2) Included in accounts payable and accrued expenses – other. |
Equity Plans (Tables)
Equity Plans (Tables) | 3 Months Ended |
Dec. 03, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Assumptions used in Black-Scholes option valuation model | Stock options granted and assumptions used in the Black-Scholes option valuation model were as follows: Quarter ended December 3, December 4, Stock options granted 2 1 Weighted-average grant-date fair value per share $ 7.99 $ 13.20 Average expected life in years 5.6 5.7 Weighted-average expected volatility 46 % 47 % Weighted-average risk-free interest rate 1.5 % 1.6 % |
Schedule restricted stock awards activity | Restricted Stock Awards activity was as follows: Quarter ended December 3, December 4, Restricted stock awards granted 3 2 Weighted-average grant-date fair value per share $ 18.52 $ 30.17 |
Stock-based compensation expense by caption and type of award | Quarter ended December 3, December 4, Stock-based compensation expense by caption Cost of goods sold $ 17 $ 12 Selling, general, and administrative 18 15 Research and development 11 8 $ 46 $ 35 Stock-based compensation expense by type of award Stock options $ 20 $ 18 Restricted stock awards 26 17 $ 46 $ 35 |
Other Operating (Income) Expe45
Other Operating (Income) Expense, Net (Tables) | 3 Months Ended |
Dec. 03, 2015 | |
Other Income and Expenses [Abstract] | |
Schedule of Other operating (income) expense, net | Quarter ended December 3, December 4, Restructure and asset impairments $ 15 $ 1 (Gain) loss on disposition of property, plant, and equipment 2 (6 ) Other — (11 ) $ 17 $ (16 ) |
Other Non-Operating Income (Exp
Other Non-Operating Income (Expense), Net (Tables) | 3 Months Ended |
Dec. 03, 2015 | |
Other Nonoperating Income (Expense) [Abstract] | |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | Quarter ended December 3, December 4, Gain (loss) from changes in currency exchange rates $ (3 ) $ (21 ) Loss on restructure of debt (1 ) (30 ) Other — 2 $ (4 ) $ (49 ) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Dec. 03, 2015 | |
Earnings Per Share [Abstract] | |
Basic and diluted earnings per share | Quarter ended December 3, December 4, Net income available to Micron shareholders – Basic $ 206 $ 1,003 Dilutive effect related to equity method investment — (1 ) Net income available to Micron shareholders – Diluted $ 206 $ 1,002 Weighted-average common shares outstanding – Basic 1,035 1,070 Dilutive effect of equity plans and convertible notes 50 125 Weighted-average common shares outstanding – Diluted 1,085 1,195 Earnings per share Basic $ 0.20 $ 0.94 Diluted 0.19 0.84 |
Segment Information (Tables)
Segment Information (Tables) | 3 Months Ended |
Dec. 03, 2015 | |
Segment Reporting [Abstract] | |
Segment Information | Quarter ended December 3, December 4, Net sales CNBU $ 1,139 $ 2,088 SBU 884 984 MBU 834 940 EBU 479 539 All Other 14 22 $ 3,350 $ 4,573 Operating income (loss) CNBU $ 14 $ 623 SBU (33 ) 26 MBU 135 306 EBU 113 118 All Other 3 12 $ 232 $ 1,085 |
Planned Acquisition of Inoter49
Planned Acquisition of Inotera and License Agreement with Nanya (Details) TWD / shares in Units, $ / shares in Units, TWD in Billions, $ in Billions | 1 Months Ended | 4 Months Ended | 6 Months Ended | ||||||
Dec. 31, 2015 | May. 01, 2016TWD | Jun. 30, 2016USD ($)$ / shares | Jun. 30, 2016TWD | Jun. 30, 2016TWD / shares | Dec. 14, 2015TWD / $ | Dec. 03, 2015 | Sep. 03, 2015 | ||
Inotera [Member] | |||||||||
Acquisition of Remaining Inotera Shares [Abstract] | |||||||||
Current Equity Ownership Percentage (in hundredths) | [1] | 33.00% | 33.00% | ||||||
Inotera [Member] | Nanya and certain of its affilliates [Member] | |||||||||
Acquisition of Remaining Inotera Shares [Abstract] | |||||||||
Percentage interest held by a third party (in hundredths) | 32.00% | ||||||||
Subsequent Event [Member] | Inotera [Member] | Nanya and certain of its affilliates [Member] | |||||||||
Acquisition of Remaining Inotera Shares [Abstract] | |||||||||
Equity Method Investment Ownership Percentage Held By Third Party Subject to Voting and Support Agreements (in hundredths) | 32.00% | ||||||||
Subsequent Event [Member] | Inotera [Member] | |||||||||
Acquisition of Remaining Inotera Shares [Abstract] | |||||||||
Foreign Currency Exchange Rate, Translation | TWD / $ | 32.7 | ||||||||
Subsequent Event [Member] | Inotera [Member] | Scenario, Forecast [Member] | |||||||||
Acquisition of Remaining Inotera Shares [Abstract] | |||||||||
Ownership percentage after stock transactions (in hundredths) | 100.00% | 100.00% | |||||||
Inotera Acquisition, Share Price | (per share) | $ 0.92 | TWD 30 | |||||||
Acquisition of Remaining Inotera Shares, Potential Consideration [Abstract] | |||||||||
Aggregate consideration payable for Inotera shares not already owned | $ | $ 4.1 | ||||||||
Debt planned to be incurred toward consideration for Inotera shares not already owned | $ 2.5 | TWD 80 | |||||||
Debt commitment letters planned to be obtained | TWD | TWD 80 | ||||||||
Trading-day period used to derive average share value of equity interests issuable to Nanya | 30 days | 30 days | |||||||
Number of days prior to the optional share issuance to Nanya that pricing is established | 30 days | 30 days | |||||||
Subsequent Event [Member] | Inotera [Member] | Scenario, Forecast [Member] | Minimum [Member] | |||||||||
Acquisition of Remaining Inotera Shares [Abstract] | |||||||||
Business Combination Required Shareholder Affirmative Vote Percentage | 66.66% | 66.66% | |||||||
Subsequent Event [Member] | Inotera [Member] | Scenario, Forecast [Member] | Maximum [Member] | Private Placement [Member] | |||||||||
Acquisition of Remaining Inotera Shares, Potential Consideration [Abstract] | |||||||||
Value of equity interests issuable to Nanya as consideration for Inotera shares not already owned | $ 1 | TWD 31.5 | |||||||
[1] | Entity is a variable interest entity. |
Cash and Investments (Details)
Cash and Investments (Details) - USD ($) | 3 Months Ended | ||||
Dec. 03, 2015 | Dec. 04, 2014 | Sep. 03, 2015 | Aug. 28, 2014 | ||
Schedule of Available-for-sale Securities [Line Items] | |||||
Cash and equivalents | $ 2,605,000,000 | $ 3,764,000,000 | $ 2,287,000,000 | $ 4,150,000,000 | |
Short-term investments | 1,036,000,000 | 1,234,000,000 | |||
Long-term marketable investments | [1] | 1,771,000,000 | 2,113,000,000 | ||
Total fair value | 5,412,000,000 | 5,634,000,000 | |||
Available-for-sale Securities, Gross Realized Gain (Loss), Disclosures [Abstract] | |||||
Proceeds from sales of available-for-sale securities | 407,000,000 | $ 233,000,000 | |||
Available-for-sale securities in an unrealized loss position for longer than twelve months | $ 0 | ||||
Minimum [Member] | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Long-term marketable investments, general maturities (in years) | 1 year | ||||
Maximum [Member] | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Long-term marketable investments, general maturities (in years) | 4 years | ||||
Cash [Member] | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Cash and equivalents | $ 2,005,000,000 | 1,684,000,000 | |||
Short-term investments | 0 | 0 | |||
Long-term marketable investments | 0 | 0 | |||
Total fair value | 2,005,000,000 | 1,684,000,000 | |||
Money market funds [Member] | Level 1 [Member] | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Cash and equivalents | [2] | 278,000,000 | 168,000,000 | ||
Short-term investments | [2] | 0 | 0 | ||
Long-term marketable investments | [1],[2] | 0 | 0 | ||
Total fair value | [2] | 278,000,000 | 168,000,000 | ||
Corporate bonds [Member] | Level 2 [Member] | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Cash and equivalents | [3] | 0 | 2,000,000 | ||
Short-term investments | [3] | 701,000,000 | 616,000,000 | ||
Long-term marketable investments | [1],[3] | 1,006,000,000 | 1,261,000,000 | ||
Total fair value | [3] | 1,707,000,000 | 1,879,000,000 | ||
Asset-backed securities [Member] | Level 2 [Member] | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Cash and equivalents | [3] | 0 | 0 | ||
Short-term investments | [3] | 8,000,000 | 8,000,000 | ||
Long-term marketable investments | [1],[3] | 522,000,000 | 575,000,000 | ||
Total fair value | [3] | 530,000,000 | 583,000,000 | ||
Government securities [Member] | Level 2 [Member] | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Cash and equivalents | [3] | 10,000,000 | 58,000,000 | ||
Short-term investments | [3] | 246,000,000 | 391,000,000 | ||
Long-term marketable investments | [1],[3] | 226,000,000 | 254,000,000 | ||
Total fair value | [3] | 482,000,000 | 703,000,000 | ||
Certificates of Deposit [Member] | Level 2 [Member] | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Cash and equivalents | [3] | 284,000,000 | 311,000,000 | ||
Short-term investments | [3] | 17,000,000 | 28,000,000 | ||
Long-term marketable investments | [1],[3] | 17,000,000 | 23,000,000 | ||
Total fair value | [3] | 318,000,000 | 362,000,000 | ||
Commercial paper [Member] | Level 2 [Member] | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Cash and equivalents | [3] | 28,000,000 | 64,000,000 | ||
Short-term investments | [3] | 64,000,000 | 191,000,000 | ||
Long-term marketable investments | [1],[3] | 0 | 0 | ||
Total fair value | [3] | $ 92,000,000 | $ 255,000,000 | ||
[1] | The maturities of long-term marketable investments 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 December 3, 2015, no adjustments were made to such pricing information. |
Receivables (Details)
Receivables (Details) - USD ($) $ in Millions | Dec. 03, 2015 | Sep. 03, 2015 |
Receivables [Abstract] | ||
Trade receivables | $ 1,939 | $ 2,188 |
Income and other taxes | 87 | 116 |
Other | 197 | 203 |
Receivables | 2,223 | 2,507 |
Intel [Member] | Collaborative Arrangement Process Design and Process Development [Member] | ||
Receivables [Abstract] | ||
Other | $ 91 | $ 120 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Millions | Dec. 03, 2015 | Sep. 03, 2015 |
Inventory, Net, Items Net of Reserve Alternative [Abstract] | ||
Finished goods | $ 779 | $ 785 |
Work in process | 1,422 | 1,315 |
Raw materials and supplies | 234 | 240 |
Inventories | $ 2,435 | $ 2,340 |
Property, Plant and Equipment53
Property, Plant and Equipment (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Dec. 03, 2015 | Dec. 04, 2014 | Sep. 03, 2015 | ||
Movement in Property, Plant and Equipment [Roll Forward] | ||||
Property, plant and equipment, gross beginning balance | $ 27,275 | |||
Property, Plant and Equipment, Additions | 1,241 | |||
Property, plant and equipment, retirements and other | (135) | |||
Property, plant and equipment, gross ending balance | 28,381 | |||
Movement in Accumulated Depreciation, Depletion and Amortization, Property, Plant and Equipment [Roll Forward] | ||||
Accumulated depreciation beginning balance | (16,721) | |||
Accumulated depreciation, addition due to current period depreciation expense | (706) | |||
Retirements and other changes to accumulated depreciation | 106 | |||
Accumulated depreciation ending balance | (17,321) | |||
Movement in Property, Plant and Equipment, Net [Roll Forward] | ||||
Property, plant and equipment, net | 11,060 | $ 10,554 | ||
Property, plant and equipment, net affect of additions and depreciation expense | 535 | |||
Property, plant and equipment, net affect retirements and other adjustments | (29) | |||
Depreciation [Abstract] | ||||
Depreciation expense | 706 | $ 613 | ||
Land [Member] | ||||
Movement in Property, Plant and Equipment [Roll Forward] | ||||
Property, plant and equipment, gross beginning balance | 88 | |||
Property, Plant and Equipment, Additions | 0 | |||
Property, plant and equipment, retirements and other | 0 | |||
Property, plant and equipment, gross ending balance | 88 | |||
Buildings [Member] | ||||
Movement in Property, Plant and Equipment [Roll Forward] | ||||
Property, plant and equipment, gross beginning balance | 5,358 | |||
Property, Plant and Equipment, Additions | 114 | |||
Property, plant and equipment, retirements and other | (4) | |||
Property, plant and equipment, gross ending balance | 5,468 | |||
Equipment [Member] | ||||
Movement in Property, Plant and Equipment [Roll Forward] | ||||
Property, plant and equipment, gross beginning balance | [1] | 21,020 | ||
Property, Plant and Equipment, Additions | 918 | |||
Property, plant and equipment, retirements and other | (118) | |||
Property, plant and equipment, gross ending balance | [1] | 21,820 | ||
Equipment [Member] | Equipment not placed into service [Member] | ||||
Movement in Property, Plant and Equipment [Roll Forward] | ||||
Property, plant and equipment, gross beginning balance | 928 | |||
Property, plant and equipment, gross ending balance | 887 | |||
Construction in progress [Member] | ||||
Movement in Property, Plant and Equipment [Roll Forward] | ||||
Property, plant and equipment, gross beginning balance | [2] | 436 | ||
Property, Plant and Equipment, Additions | [2] | 194 | ||
Property, plant and equipment, retirements and other | [2] | (13) | ||
Property, plant and equipment, gross ending balance | [2] | 617 | ||
Software [Member] | ||||
Movement in Property, Plant and Equipment [Roll Forward] | ||||
Property, plant and equipment, gross beginning balance | 373 | |||
Property, Plant and Equipment, Additions | 15 | |||
Property, plant and equipment, retirements and other | 0 | |||
Property, plant and equipment, gross ending balance | $ 388 | |||
[1] | Included costs related to equipment not placed into service of $887 million and $928 million as of December 3, 2015 and September 3, 2015, 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 | 12 Months Ended | ||||||
Dec. 03, 2015USD ($) | Dec. 04, 2014USD ($) | Aug. 29, 2013 | Dec. 03, 2015TWD / shares | Dec. 03, 2015USD ($) | Sep. 30, 2015USD ($) | Sep. 03, 2015USD ($) | ||
Schedule of Equity Method Investments [Line Items] | ||||||||
Investment Balance | $ 1,351 | $ 1,379 | ||||||
Equity in net income (loss) of equity method investees, net of tax | $ 59 | $ 124 | ||||||
Inotera [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Investment Balance | [1] | $ 1,296 | $ 1,332 | |||||
Ownership Percentage (in hundredths) | [1] | 33.00% | 33.00% | |||||
Equity in net income (loss) of equity method investees, net of tax | 52 | 129 | ||||||
Market value of equity interests | $ 1,550 | |||||||
Quoted market price per share of investee stock | TWD / shares | TWD 23.70 | |||||||
Amount in accumulated other comprehensive income (loss) for cumulative translation adjustments on its investment | $ (77) | $ 13 | ||||||
Inotera [Member] | Inventories [Member] | DRAM [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Purchases of DRAM products from Inotera | 379 | 729 | ||||||
Inotera [Member] | Nanya and certain of its affilliates [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Percentage interest held by a third party (in hundredths) | 32.00% | |||||||
Inotera [Member] | Variable interest entity, not primary beneficiary [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Inotera investment balance, substantailly all of max exposure to loss, unconsolidated VIEs | $ 1,300 | |||||||
Tera Probe [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Investment Balance | $ 41 | $ 38 | ||||||
Ownership Percentage (in hundredths) | 40.00% | 40.00% | ||||||
Equity in net income (loss) of equity method investees, net of tax | $ 3 | (7) | ||||||
Market value of equity interests | $ 38 | $ 31 | ||||||
Ownership percentage after stock transactions (in hundredths) | 40.00% | |||||||
Difference between cost of Tera Probe investment and underlying equity | 23 | |||||||
Weighted-average period for remaining Tera Probe amortization (in years) | 7 years | |||||||
Other [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Investment Balance | $ 14 | $ 9 | ||||||
Equity in net income (loss) of equity method investees, net of tax | $ 4 | $ 2 | ||||||
[1] | Entity is a variable interest entity. |
Equity Method Investments - 2 (
Equity Method Investments - 2 (Details) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 03, 2015 | Dec. 04, 2014 | |
Tera Probe [Member] | ||
Related Party Transaction [Line Items] | ||
Related party purchases from Tera Probe | $ 21 | $ 25 |
Intangible Assets and Goodwil56
Intangible Assets and Goodwill - Intangible Assets (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Dec. 03, 2015 | Dec. 04, 2014 | Sep. 03, 2015 | ||
Amortizing assets | ||||
Gross Amount | $ 851 | $ 866 | ||
Accumulated Amortization | (423) | (417) | ||
Amortization expense for intangible assets | 31 | $ 30 | ||
Non-amortizing assets | ||||
Intangible Assets, Gross (Excluding Goodwill) | 959 | 866 | ||
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract] | ||||
2,016 | 120 | |||
2,017 | 104 | |||
2,018 | 92 | |||
2,019 | 44 | |||
2,020 | 28 | |||
Other noncurrent assets [Member] | ||||
Non-amortizing assets | ||||
Goodwill | [1] | 104 | 23 | |
In-process R&D [Member] | ||||
Non-amortizing assets | ||||
In-process R&D | 108 | 0 | ||
Product and process technology [Member] | ||||
Amortizing assets | ||||
Gross Amount | 850 | 864 | ||
Accumulated Amortization | (423) | (416) | ||
Product and process technology intangible asset capitalized during period | $ 9 | $ 12 | ||
Product and process technology intangible asset capitalized during period, weighted-average useful lives (in years) | 9 years | 8 years | ||
Other intangible assets [Member] | ||||
Amortizing assets | ||||
Gross Amount | $ 1 | 2 | ||
Accumulated Amortization | $ 0 | $ (1) | ||
[1] | Included in other noncurrent assets. |
Intangible Assets and Goodwil57
Intangible Assets and Goodwill - Tidal Acquisition (Details) - Tidal Systems, Ltd. [Member] | Oct. 02, 2015USD ($) |
Business Acquisition [Line Items] | |
Payments to acquire Tidal | $ 148,000,000 |
Deferred tax liabilities acquired in Tidal acquisition | 41,000,000 |
Business Acquisition, Goodwill, Expected Tax Deductible Amount | 0 |
SBU [Member] | |
Business Acquisition [Line Items] | |
Goodwill | 81,000,000 |
In-process R&D [Member] | |
Business Acquisition [Line Items] | |
In-process R&D acquired in Tidal acquisition | $ 108,000,000 |
Accounts Payable and Accrued 58
Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Millions | Dec. 03, 2015 | Sep. 03, 2015 |
Accounts payable | $ 1,014 | $ 1,020 |
Property, plant and equipment payables | 803 | 577 |
Salaries, wages and benefits | 335 | 321 |
Related party payables | 261 | 338 |
Income and other taxes | 84 | 85 |
Other | 287 | 270 |
Total accounts payable and accrued expenses | 2,784 | 2,611 |
Inotera [Member] | DRAM [Member] | ||
Related party payables | 253 | 327 |
Tera Probe [Member] | ||
Related party payables | $ 8 | $ 11 |
Debt - Schedule of Long-term De
Debt - Schedule of Long-term Debt (Details) $ / shares in Units, shares in Millions, $ in Millions | Dec. 01, 2015USD ($) | Dec. 31, 2015USD ($) | Dec. 03, 2015USD ($)integershares$ / shares | Sep. 03, 2015USD ($) | ||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||
Current debt | $ 1,051 | $ 1,089 | ||||
Long-term debt | 6,326 | 6,252 | ||||
Debt | $ 7,377 | 7,341 | ||||
Convertible Debt Issuances [Abstract] | ||||||
Share Price (in dollars per share) | $ / shares | $ 15.61 | |||||
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ||||||
Remainder of 2016 | $ 241 | |||||
2,017 | 176 | |||||
2,018 | 129 | |||||
2,019 | 91 | |||||
2,020 | 32 | |||||
2021 and thereafter | 110 | |||||
Capital Leases, Future Minimum Payments, Interest Included in Payments | (70) | |||||
Capital Lease Obligations | 709 | |||||
Reorganization obligation [Member] | ||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||
Current debt | 160 | 161 | ||||
Long-term debt | 695 | 701 | ||||
Debt | $ 855 | 862 | ||||
Effective interest rate (in thousandths) | 6.25% | |||||
Capital lease obligations [Member] | ||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||
Current debt | [1] | $ 273 | 326 | |||
Long-term debt | [1] | 436 | 466 | |||
Debt | [1] | $ 709 | $ 792 | |||
Weighted average effective interest rate (in thousandths) | 3.80% | 3.70% | ||||
Leases, Capital [Abstract] | ||||||
Capital Lease Obligations Incurred | $ 20 | |||||
Percentage, Incurred in Current Period | 5.00% | |||||
Capital lease obligations [Member] | Sales-leaseback transactions [Member] | Subsequent Event [Member] | ||||||
Leases, Capital [Abstract] | ||||||
Capital Lease Obligations Incurred | $ 424 | |||||
Percentage, Incurred in Current Period | 2.70% | |||||
Secured Debt [Member] | 1.258% senior notes [Member] | ||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||
Current debt | $ 87 | $ 87 | ||||
Long-term debt | 219 | 217 | ||||
Debt | $ 306 | 304 | ||||
Stated interest rate (in thousandths) | 1.258% | |||||
Effective interest rate (in thousandths) | 1.97% | |||||
Corporate bonds [Member] | 2022 senior notes [Member] | ||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||
Current debt | $ 0 | 0 | ||||
Long-term debt | 589 | 589 | ||||
Debt | $ 589 | 589 | ||||
Stated interest rate (in thousandths) | 5.875% | |||||
Effective interest rate (in thousandths) | 6.14% | |||||
Corporate bonds [Member] | 2023 senior notes [Member] | ||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||
Current debt | $ 0 | 0 | ||||
Long-term debt | 989 | 988 | ||||
Debt | $ 989 | 988 | ||||
Stated interest rate (in thousandths) | 5.25% | |||||
Effective interest rate (in thousandths) | 5.43% | |||||
Corporate bonds [Member] | 2024 senior notes [Member] | ||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||
Current debt | $ 0 | 0 | ||||
Long-term debt | 545 | 545 | ||||
Debt | $ 545 | 545 | ||||
Stated interest rate (in thousandths) | 5.25% | |||||
Effective interest rate (in thousandths) | 5.38% | |||||
Corporate bonds [Member] | 2025 senior notes [Member] | ||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||
Current debt | $ 0 | 0 | ||||
Long-term debt | 1,138 | 1,138 | ||||
Debt | $ 1,138 | 1,138 | ||||
Stated interest rate (in thousandths) | 5.50% | |||||
Effective interest rate (in thousandths) | 5.56% | |||||
Corporate bonds [Member] | 2026 senior notes [Member] | ||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||
Current debt | $ 0 | 0 | ||||
Long-term debt | 446 | 446 | ||||
Debt | $ 446 | 446 | ||||
Stated interest rate (in thousandths) | 5.625% | |||||
Effective interest rate (in thousandths) | 5.73% | |||||
Convertible Debt [Member] | ||||||
Convertible Debt Issuances [Abstract] | ||||||
Outstanding principal | $ 1,899 | |||||
Underlying Shares (shares issuable upon conversion) | shares | 119 | |||||
Conversion value in excess of principal | [2] | $ 440 | ||||
Conversion rights, minimum number of trading days (in days) | integer | 20 | |||||
Conversion rights, consecutive trading period (in days) | 30 days | |||||
Conversion rights, threshold percentage of applicable conversion price (in hundredths) | 130.00% | |||||
Convertible Debt [Member] | 2032C convertible senior notes [Member] | ||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||
Current debt | [4] | $ 0 | [3] | 0 | ||
Long-term debt | [4] | 199 | [3] | 197 | ||
Debt | [4] | $ 199 | [3] | 197 | ||
Stated interest rate (in thousandths) | 2.375% | |||||
Effective interest rate (in thousandths) | 5.95% | |||||
Convertible Debt Issuances [Abstract] | ||||||
Holder Put Date (Earliest) | [5] | May 31, 2019 | ||||
Outstanding principal | $ 224 | |||||
Underlying Shares (shares issuable upon conversion) | shares | 23 | |||||
Initial conversion, price per share | $ / shares | $ 9.63 | |||||
Conversion price per share threshold (dollars per share) | $ / shares | [6] | $ 12.52 | ||||
Conversion value in excess of principal | [2] | $ 138 | ||||
Convertible Debt [Member] | 2032D convertible senior notes [Member] | ||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||
Current debt | [4] | 0 | [3] | 0 | ||
Long-term debt | [4] | 151 | [3] | 150 | ||
Debt | [4] | $ 151 | [3] | 150 | ||
Stated interest rate (in thousandths) | 3.125% | |||||
Effective interest rate (in thousandths) | 6.33% | |||||
Convertible Debt Issuances [Abstract] | ||||||
Holder Put Date (Earliest) | [5] | May 31, 2021 | ||||
Outstanding principal | $ 177 | |||||
Underlying Shares (shares issuable upon conversion) | shares | 18 | |||||
Initial conversion, price per share | $ / shares | $ 9.98 | |||||
Conversion price per share threshold (dollars per share) | $ / shares | [6] | $ 12.97 | ||||
Conversion value in excess of principal | [2] | $ 100 | ||||
Convertible Debt [Member] | 2033E convertible senior notes [Member] | ||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||
Current debt | [4] | 165 | [3] | 217 | ||
Long-term debt | [4] | 0 | [3] | 0 | ||
Debt | [4] | $ 165 | [3] | 217 | ||
Stated interest rate (in thousandths) | 1.625% | |||||
Effective interest rate (in thousandths) | 4.50% | |||||
Convertible Debt Issuances [Abstract] | ||||||
Holder Put Date (Earliest) | [5] | Feb. 28, 2018 | ||||
Outstanding principal | $ 176 | |||||
Underlying Shares (shares issuable upon conversion) | shares | 16 | |||||
Initial conversion, price per share | $ / shares | $ 10.93 | |||||
Conversion price per share threshold (dollars per share) | $ / shares | [6] | $ 14.21 | ||||
Conversion value in excess of principal | [2] | $ 75 | ||||
Convertible Debt [Member] | 2033F convertible senior note [Member] | ||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||
Current debt | [4] | 266 | [3] | 264 | ||
Long-term debt | [4] | 0 | [3] | 0 | ||
Debt | [4] | $ 266 | [3] | 264 | ||
Stated interest rate (in thousandths) | 2.125% | |||||
Effective interest rate (in thousandths) | 4.93% | |||||
Convertible Debt Issuances [Abstract] | ||||||
Holder Put Date (Earliest) | [5] | Feb. 28, 2020 | ||||
Outstanding principal | $ 297 | |||||
Underlying Shares (shares issuable upon conversion) | shares | 27 | |||||
Initial conversion, price per share | $ / shares | $ 10.93 | |||||
Conversion price per share threshold (dollars per share) | $ / shares | [6] | $ 14.21 | ||||
Conversion value in excess of principal | [2] | $ 127 | ||||
Convertible Debt [Member] | 2043G convertible senior notes [Member] | ||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||
Current debt | [4] | 0 | 0 | |||
Long-term debt | [4] | 647 | 644 | |||
Debt | [4] | $ 647 | 644 | |||
Stated interest rate (in thousandths) | 3.00% | |||||
Effective interest rate (in thousandths) | 6.76% | |||||
Convertible Debt Issuances [Abstract] | ||||||
Holder Put Date (Earliest) | [5],[7] | Nov. 30, 2028 | ||||
Outstanding principal | [7] | $ 1,025 | ||||
Underlying Shares (shares issuable upon conversion) | shares | 35 | |||||
Initial conversion, price per share | $ / shares | $ 29.16 | |||||
Conversion price per share threshold (dollars per share) | $ / shares | [6] | $ 37.91 | ||||
Conversion value in excess of principal | [2] | $ 0 | ||||
Debt Instrument Issued At A Discount Original Principal Amount | [7] | 820 | ||||
Debt Instrument, Scheduled Accreted Principal Amount | [7] | 917 | ||||
Debt Instrument, Face Amount | [7] | 1,030 | ||||
Other notes payable [Member] | ||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||
Current debt | 100 | 34 | ||||
Long-term debt | 272 | 171 | ||||
Debt | $ 372 | $ 205 | ||||
Weighted average stated interest rate (in thousandths) | 2.462% | |||||
Weighted average effective interest rate (in thousandths) | 2.65% | |||||
Other notes payable [Member] | Secured Debt 6 [Member] | ||||||
Long-term Debt, by Current and Noncurrent [Abstract] | ||||||
Debt | $ 213 | |||||
Convertible Debt Issuances [Abstract] | ||||||
Proceeds from Issuance of Other Long-term Debt | $ 174 | |||||
Debt instrument, original term | 3 years | |||||
Other notes payable [Member] | Secured Debt 6 [Member] | Libor [Member] | ||||||
Convertible Debt Issuances [Abstract] | ||||||
Debt Instrument Variable Reference Rate Period 1 | 3 months | |||||
Other notes payable [Member] | Secured Debt 6 [Member] | Libor [Member] | Maximum [Member] | ||||||
Convertible Debt Issuances [Abstract] | ||||||
Margin on variable rate financing (in hundredths) | 2.20% | |||||
Loans Payable [Member] | ||||||
Long-term Debt, by Maturity [Abstract] | ||||||
Remainder of 2016 | $ 329 | |||||
2,017 | 348 | |||||
2,018 | 507 | |||||
2,019 | 502 | |||||
2,020 | 695 | |||||
2021 and thereafter | 4,844 | |||||
Unamortized amounts | (557) | |||||
Notes Payable | $ 6,668 | |||||
[1] | Weighted-average imputed rate of 3.8% and 3.7% as of December 3, 2015 and September 3, 2015, respectively. | |||||
[2] | Based on our closing share price of $15.61 as of December 3, 2015. | |||||
[3] | Since the closing price of our common stock for at least 20 trading days in the 30 trading day period ending on September 30, 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 December 31, 2015. The closing price of our common stock also exceeded the thresholds for the calendar quarter ended December 31, 2015; therefore, these notes are convertible by the holders through March 31, 2016. The 2033 Notes are classified as current because the terms of these notes also 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. | |||||
[5] | 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 maturity at a price equal to the principal amount thereof plus accrued interest. | |||||
[6] | 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 September 30, 2015 for our 2032 Notes and 2033 Notes; therefore, those notes were convertible by the holders through December 31, 2015. The closing price of our common stock also exceeded the thresholds for the calendar quarter ended December 31, 2015; therefore, these notes are convertible by the holders through March 31, 2016. | |||||
[7] | The original principal amount of $820 million accretes up to $917 million in November 2028 and $1.03 billion at maturity in 2043. |
Debt - Extinguishment of Debt (
Debt - Extinguishment of Debt (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Dec. 03, 2015 | Dec. 04, 2014 | Aug. 28, 2014 | ||
Extinguishment of Debt [Line Items] | ||||
Decrease in Principal | $ (277) | |||
Decrease in Carrying Value | (512) | |||
Decrease in Cash to Settle Long-term Debt Obligations | (654) | |||
Decrease in Equity | (106) | |||
Loss on restructure of debt | $ (1) | (30) | ||
Other Non-Operating Income Expense Net [Member] | ||||
Extinguishment of Debt [Line Items] | ||||
Loss on restructure of debt | [1] | (30) | ||
Convertible Debt [Member] | Conversion And Settlement [Member] | ||||
Extinguishment of Debt [Line Items] | ||||
Decrease in Principal | (120) | |||
Decrease in Carrying Value | (367) | |||
Decrease in Cash to Settle Long-term Debt Obligations | (407) | |||
Decrease in Equity | (14) | |||
Convertible Debt [Member] | Repurchase [Member] | ||||
Extinguishment of Debt [Line Items] | ||||
Decrease in Principal | (36) | |||
Carrying amount of debt extinguished | (30) | |||
Decrease in Cash to Settle Long-term Debt Obligations | (125) | |||
Decrease in Equity | (92) | |||
Convertible Debt [Member] | 2033E convertible senior notes [Member] | Conversion And Settlement [Member] | ||||
Extinguishment of Debt [Line Items] | ||||
Decrease in Principal | (6) | |||
Decrease in Cash to Settle Long-term Debt Obligations | (18) | |||
Convertible Debt [Member] | 2033E convertible senior notes [Member] | Repurchase [Member] | ||||
Extinguishment of Debt [Line Items] | ||||
Decrease in Principal | (57) | |||
Carrying amount of debt extinguished | (54) | |||
Decrease in Cash to Settle Long-term Debt Obligations | (94) | |||
Decrease in Equity | (38) | |||
Convertible Debt [Member] | 2031B convertible senior notes [Member] | Conversion And Settlement [Member] | ||||
Extinguishment of Debt [Line Items] | ||||
Decrease in Principal | (114) | |||
Decrease in Carrying Value | $ 275 | |||
Decrease in Cash to Settle Long-term Debt Obligations | (389) | |||
Convertible Debt [Member] | 2032C and 2032D convertible senior notes [Member] | Repurchase [Member] | ||||
Extinguishment of Debt [Line Items] | ||||
Decrease in Principal | (36) | |||
Decrease in Cash to Settle Long-term Debt Obligations | (125) | |||
Convertible Debt [Member] | Other Non-Operating Income Expense Net [Member] | Conversion And Settlement [Member] | ||||
Extinguishment of Debt [Line Items] | ||||
Loss on restructure of debt | (22) | |||
Convertible Debt [Member] | Other Non-Operating Income Expense Net [Member] | Repurchase [Member] | ||||
Extinguishment of Debt [Line Items] | ||||
Loss on restructure of debt | (3) | |||
Convertible Debt [Member] | Other Non-Operating Income Expense Net [Member] | 2033E convertible senior notes [Member] | Repurchase [Member] | ||||
Extinguishment of Debt [Line Items] | ||||
Loss on restructure of debt | [1] | $ (1) | ||
Other notes payable [Member] | Prepayment [Member] | ||||
Extinguishment of Debt [Line Items] | ||||
Decrease in Principal | (121) | |||
Carrying amount of debt extinguished | (115) | |||
Decrease in Cash to Settle Long-term Debt Obligations | (122) | |||
Decrease in Equity | 0 | |||
Other notes payable [Member] | Other Non-Operating Income Expense Net [Member] | Prepayment [Member] | ||||
Extinguishment of Debt [Line Items] | ||||
Loss on restructure of debt | $ (5) | |||
[1] | Included in other non-operating expense. |
Contingencies (Details)
Contingencies (Details) - Pending Litigation [Member] $ in Millions | 3 Months Ended |
Dec. 03, 2015USD ($)integer | |
Qimonda AG Inotera Share Purchase Proceedings [Member] | Inotera [Member] | |
Loss Contingencies [Line Items] | |
Inotera Investment, Percentage of shares owned subject to litigation (in hundredths) | 55.00% |
Loss contingency, judgment under appeal | $ 1 |
Carrying value of Inotera shares acquired from Qimonda | 664 |
Quoted market value of Inotera shares acquired from Qimonda | $ 855 |
Patent Matters [Member] | Elm 3DS Innovations, LLC [Member] | |
Loss Contingencies [Line Items] | |
Number of patents allegedly infringed | integer | 13 |
Patent Matters [Member] | Innovative Memory Solutions, Inc. [Member] | |
Loss Contingencies [Line Items] | |
Number of patents allegedly infringed | integer | 8 |
Redeemable Convertible Notes (D
Redeemable Convertible Notes (Details) - USD ($) $ in Millions | Dec. 03, 2015 | Sep. 03, 2015 |
Debt Instrument [Line Items] | ||
Redeemable convertible notes | $ 42 | $ 49 |
2033E and 2033F convertible senior notes [Member] | ||
Debt Instrument [Line Items] | ||
Redeemable convertible notes | $ 42 | $ 49 |
Equity - Changes in the Compone
Equity - Changes in the Components of Equity (Details) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 03, 2015 | Dec. 04, 2014 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Beginning balance | $ 13,239 | $ 11,573 |
Net income | 206 | 1,002 |
Other comprehensive income (loss) | (103) | (21) |
Comprehensive income (loss) | 103 | 981 |
Contributions from noncontrolling interests | 37 | 20 |
Distributions to noncontrolling interests | 0 | (6) |
Capital and other transactions attributable to Micron | (104) | (75) |
Ending balance | 13,275 | 12,493 |
Attributable to Micron [Member] | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Beginning balance | 12,302 | 10,771 |
Net income | 206 | 1,003 |
Other comprehensive income (loss) | (103) | (21) |
Comprehensive income (loss) | 103 | 982 |
Contributions from noncontrolling interests | 0 | 0 |
Distributions to noncontrolling interests | 0 | 0 |
Capital and other transactions attributable to Micron | (104) | (75) |
Ending balance | 12,301 | 11,678 |
Noncontrolling Interests [Member] | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Beginning balance | 937 | 802 |
Net income | 0 | (1) |
Other comprehensive income (loss) | 0 | 0 |
Comprehensive income (loss) | 0 | (1) |
Contributions from noncontrolling interests | 37 | 20 |
Distributions to noncontrolling interests | 0 | (6) |
Capital and other transactions attributable to Micron | 0 | 0 |
Ending balance | $ 974 | $ 815 |
Equity - Common Stock Repurchas
Equity - Common Stock Repurchase (Details) - Repurchases Authorized by the BOD [Member] shares in Millions, $ in Millions | 3 Months Ended | 15 Months Ended |
Dec. 03, 2015USD ($)shares | Dec. 03, 2015USD ($)shares | |
Equity, Class of Treasury Stock [Line Items] | ||
Stock Repurchase Program, Authorized Amount | $ 1,250 | $ 1,250 |
Stock Repurchase Program, Additional Authorized Amount | $ 250 | |
Treasury Stock, Shares, Acquired | shares | 7 | 49 |
Value of Treasury Stock Acquired, Cost Method (including commissions) | $ 125 | $ 956 |
Equity - Capped Calls (Details)
Equity - Capped Calls (Details) - Call Option [Member] - Purchased options [Member] - Convertible Debt [Member] | 3 Months Ended |
Dec. 03, 2015USD ($)$ / shares | |
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 (in dollars per share) | $ 13.17 |
Option indexed to issuer's 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 (in dollars per share) | $ 16.04 |
Option indexed to issuer's equity settlement proceeds | $ | $ 814,000,000 |
Equity - Accumulated Other Comp
Equity - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 03, 2015 | Dec. 04, 2014 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||
Beginning accumulated other comprehensive income (loss) | $ 13 | |
Other comprehensive income (loss) | (103) | $ (21) |
Ending accumulated other comprehensive income (loss) | (90) | |
Cumulative Foreign Currency Translation Adjustment [Member] | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||
Beginning accumulated other comprehensive income (loss) | 0 | |
Other comprehensive income (loss) before reclassifications | (90) | |
Amount reclassified out of accumulated other comprehensive income | 0 | |
Tax effects | 0 | |
Other comprehensive income (loss) | (90) | |
Ending accumulated other comprehensive income (loss) | (90) | |
Gains (Losses) on Derivative Instruments, Net [Member] | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||
Beginning accumulated other comprehensive income (loss) | (5) | |
Other comprehensive income (loss) before reclassifications | (4) | |
Amount reclassified out of accumulated other comprehensive income | (1) | |
Tax effects | 1 | |
Other comprehensive income (loss) | (4) | |
Ending accumulated other comprehensive income (loss) | (9) | |
Gains (Losses) on Investments, Net [Member] | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||
Beginning accumulated other comprehensive income (loss) | (3) | |
Other comprehensive income (loss) before reclassifications | (3) | |
Amount reclassified out of accumulated other comprehensive income | 0 | |
Tax effects | 0 | |
Other comprehensive income (loss) | (3) | |
Ending accumulated other comprehensive income (loss) | (6) | |
Pension Liability Adjustments [Member] | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||
Beginning accumulated other comprehensive income (loss) | 21 | |
Other comprehensive income (loss) before reclassifications | (8) | |
Amount reclassified out of accumulated other comprehensive income | 0 | |
Tax effects | 2 | |
Other comprehensive income (loss) | (6) | |
Ending accumulated other comprehensive income (loss) | 15 | |
Attributable to Micron [Member] | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||
Beginning accumulated other comprehensive income (loss) | 13 | |
Other comprehensive income (loss) before reclassifications | (105) | |
Amount reclassified out of accumulated other comprehensive income | (1) | |
Tax effects | 3 | |
Other comprehensive income (loss) | (103) | $ (21) |
Ending accumulated other comprehensive income (loss) | $ (90) |
Equity - NCI and Consolidated V
Equity - NCI and Consolidated VIE Disclosures (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Dec. 03, 2015 | Dec. 04, 2014 | Sep. 03, 2015 | ||
Variable Interest Entity [Line Items] | ||||
Noncontrolling Interest Balance | $ 974 | $ 937 | ||
R and D expenses reduced by reimbursements from Intel | (421) | $ (376) | ||
Net sales | 3,350 | 4,573 | ||
Trade receivables | 1,939 | 2,188 | ||
Noncontrolling Interest Items [Abstract] | ||||
IMFT distributions to Intel | 0 | 6 | ||
Intel contributions to IMFT | 37 | 20 | ||
Intel [Member] | Collaborative Arrangement Process Design and Process Development [Member] | ||||
Variable Interest Entity [Line Items] | ||||
R and D expenses reduced by reimbursements from Intel | 46 | 54 | ||
IM Flash Technologies, LLC [Member] | Intel [Member] | Non-Volatile Memory [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Net sales | 115 | 108 | ||
Trade receivables | 75 | 67 | ||
Other Consolidated Entities [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Noncontrolling Interest Balance | 15 | 15 | ||
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 Interest Balance | [1] | $ 866 | $ 829 | |
Noncontrolling Interest Percentage (in hundredths) | [1] | 49.00% | 49.00% | |
Ownership percentage (in hundredths) | 51.00% | |||
Noncontrolling Interest Items [Abstract] | ||||
IMFT distributions to Micron | $ 0 | 6 | ||
IMFT distributions to Intel | 0 | 6 | ||
Micron contributions to IMFT | 38 | 21 | ||
Intel contributions to IMFT | 37 | $ 20 | ||
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 Interest Balance | [1] | $ 93 | $ 93 | |
Noncontrolling Interest Percentage (in hundredths) | [1] | 50.00% | 50.00% | |
Ownership percentage (in hundredths) | 50.00% | |||
[1] | Entity is a variable interest entity. |
Equity - Consolidated VIE asset
Equity - Consolidated VIE assets and liabilities (Details) - USD ($) $ in Millions | Dec. 03, 2015 | Sep. 03, 2015 | Dec. 04, 2014 | Aug. 28, 2014 | |
Assets | |||||
Cash and equivalents | $ 2,605 | $ 2,287 | $ 3,764 | $ 4,150 | |
Receivables | 2,223 | 2,507 | |||
Inventories | 2,435 | 2,340 | |||
Other current assets | 211 | 228 | |||
Total current assets | 8,510 | 8,596 | |||
Property, plant and equipment, net | 11,060 | 10,554 | |||
Other noncurrent assets | 565 | 455 | |||
Total assets | 24,388 | 24,143 | |||
Liabilities | |||||
Accounts payable and accrued expenses | 2,784 | 2,611 | |||
Deferred income | 190 | 205 | |||
Current debt | 1,051 | 1,089 | |||
Total current liabilities | 4,025 | 3,905 | |||
Long-term debt | 6,326 | 6,252 | |||
Other noncurrent liabilities | 720 | 698 | |||
Total liabilities | 11,071 | 10,855 | |||
Variable Interest Entity, Primary Beneficiary [Member] | IM Flash Technologies, LLC [Member] | |||||
Assets | |||||
Cash and equivalents | [1] | 140 | 134 | ||
Receivables | [1] | 88 | 79 | ||
Inventories | [1] | 64 | 65 | ||
Other current assets | [1] | 6 | 7 | ||
Total current assets | [1] | 298 | 285 | ||
Property, plant and equipment, net | [1] | 1,777 | 1,768 | ||
Other noncurrent assets | [1] | 53 | 49 | ||
Total assets | [1] | 2,128 | 2,102 | ||
Liabilities | |||||
Accounts payable and accrued expenses | [1] | 139 | 182 | ||
Deferred income | [1] | 10 | 9 | ||
Current debt | [1] | 20 | 22 | ||
Total current liabilities | [1] | 169 | 213 | ||
Long-term debt | [1] | 45 | 49 | ||
Other noncurrent liabilities | [1] | 96 | 100 | ||
Total liabilities | [1] | 310 | 362 | ||
Variable Interest Entity, Primary Beneficiary [Member] | MP Mask Technology Center, LLC [Member] | |||||
Assets | |||||
Total current assets | [1] | 23 | 21 | ||
Noncurrent assets (primarily property, plant and equipment) | [1] | 171 | 180 | ||
Liabilities | |||||
Total current liabilities | [1] | $ 13 | $ 21 | ||
[1] | Amounts exclude intercompany balances that were eliminated in our consolidated balance sheets. |
Equity - Restrictions on Net As
Equity - Restrictions on Net Assets (Details) $ in Millions | Dec. 03, 2015USD ($) |
Retained Earnings Note Disclosure [Abstract] | |
Retained Earnings, Undistributed Earnings from Equity Method Investees | $ 291 |
MMJ Group [Member] | |
Restrictions for Consolidated and Unconsolidated Subsidiaries [Abstract] | |
Restricted net assets | 2,960 |
IM Flash Technologies, LLC [Member] | |
Restrictions for Consolidated and Unconsolidated Subsidiaries [Abstract] | |
Restricted net assets | 952 |
Cash and Cash Equivalents [Member] | MMJ Group [Member] | |
Restrictions for Consolidated and Unconsolidated Subsidiaries [Abstract] | |
Restricted net assets | 951 |
Cash and Cash Equivalents [Member] | IM Flash Technologies, LLC [Member] | |
Restrictions for Consolidated and Unconsolidated Subsidiaries [Abstract] | |
Restricted net assets | $ 140 |
Fair Value Measurements - Asset
Fair Value Measurements - Assets measured (Details) - USD ($) $ in Millions | Dec. 03, 2015 | Sep. 03, 2015 |
Certificates of Deposit [Member] | Other noncurrent assets [Member] | Level 2 [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Financial Statement Captions [Line Items] | ||
Restricted cash | $ 51 | $ 45 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair and Carrying Value (Details) - USD ($) $ in Millions | Dec. 03, 2015 | Sep. 03, 2015 |
Fair value disclosure [Line Items] | ||
Carrying Value of Debt | $ 7,377 | $ 7,341 |
Fair Value [Member] | Level 2 [Member] | Notes and MMJ creditor installment payments [Member] | ||
Fair value disclosure [Line Items] | ||
Fair Value of Notes and MMJ creditor installment payments | 5,169 | 5,020 |
Fair Value [Member] | Level 2 [Member] | Convertible notes [Member] | ||
Fair value disclosure [Line Items] | ||
Fair Value of Convertible notes | 2,360 | 2,508 |
Carrying Value [Member] | Notes and MMJ creditor installment payments [Member] | ||
Fair value disclosure [Line Items] | ||
Carrying Value of Debt | 5,240 | 5,077 |
Carrying Value [Member] | Convertible notes [Member] | ||
Fair value disclosure [Line Items] | ||
Carrying Value of Debt | $ 1,428 | $ 1,472 |
Derivative Financial Instrume72
Derivative Financial Instruments - Fair Values (Details) $ in Millions, ¥ in Billions | 3 Months Ended | |||||
Dec. 03, 2015USD ($) | Dec. 04, 2014USD ($) | Nov. 27, 2015JPY (¥) | Sep. 03, 2015USD ($) | Nov. 28, 2014JPY (¥) | ||
Notional Disclosures [Abstract] | ||||||
Payments for Derivative and Hedge Investing Activities | $ (46) | $ (66) | ||||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | ||||||
Notional Disclosures [Abstract] | ||||||
Notional Amount Outstanding | $ 1,259 | $ 1,406 | ||||
Foreign Currency Derivatives [Abstract] | ||||||
General maturity of non-designated currency forward contracts (in days) | 35 days | |||||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Yen | ||||||
Notional Disclosures [Abstract] | ||||||
Notional Amount Outstanding | $ 919 | 928 | ||||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Singapore dollar | ||||||
Notional Disclosures [Abstract] | ||||||
Notional Amount Outstanding | 229 | 282 | ||||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | New Taiwan dollar | ||||||
Notional Disclosures [Abstract] | ||||||
Notional Amount Outstanding | 35 | 89 | ||||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Shekel | ||||||
Notional Disclosures [Abstract] | ||||||
Notional Amount Outstanding | 28 | 27 | ||||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Euro | ||||||
Notional Disclosures [Abstract] | ||||||
Notional Amount Outstanding | 17 | 29 | ||||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | British Pound | ||||||
Notional Disclosures [Abstract] | ||||||
Notional Amount Outstanding | 16 | 19 | ||||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Yuan | ||||||
Notional Disclosures [Abstract] | ||||||
Notional Amount Outstanding | 15 | 32 | ||||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Reorganization obligation [Member] | ||||||
Notional Disclosures [Abstract] | ||||||
Payments for Derivative and Hedge Investing Activities | $ (21) | $ (33) | ||||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | Reorganization obligation [Member] | Yen | ||||||
Notional Disclosures [Abstract] | ||||||
Notional Amount Outstanding | ¥ | ¥ 10 | ¥ 20 | ||||
Not Designated as Hedging Instrument [Member] | Convertible notes settlement obligations [Member] | ||||||
Foreign Currency Derivatives [Abstract] | ||||||
Convertible notes settlement obligations derivative term (in days) | 30 days | |||||
Not Designated as Hedging Instrument [Member] | Accounts receivable [Member] | Forward Contracts [Member] | ||||||
Derivative, Fair Value, Net [Abstract] | ||||||
Fair Value of Asset | [1] | $ 0 | 1 | |||
Not Designated as Hedging Instrument [Member] | Accounts receivable [Member] | Forward Contracts [Member] | Yen | ||||||
Derivative, Fair Value, Net [Abstract] | ||||||
Fair Value of Asset | [1] | 0 | 0 | |||
Not Designated as Hedging Instrument [Member] | Accounts receivable [Member] | Forward Contracts [Member] | Singapore dollar | ||||||
Derivative, Fair Value, Net [Abstract] | ||||||
Fair Value of Asset | [1] | 0 | 0 | |||
Not Designated as Hedging Instrument [Member] | Accounts receivable [Member] | Forward Contracts [Member] | New Taiwan dollar | ||||||
Derivative, Fair Value, Net [Abstract] | ||||||
Fair Value of Asset | [1] | 0 | 0 | |||
Not Designated as Hedging Instrument [Member] | Accounts receivable [Member] | Forward Contracts [Member] | Shekel | ||||||
Derivative, Fair Value, Net [Abstract] | ||||||
Fair Value of Asset | [1] | 0 | 0 | |||
Not Designated as Hedging Instrument [Member] | Accounts receivable [Member] | Forward Contracts [Member] | Euro | ||||||
Derivative, Fair Value, Net [Abstract] | ||||||
Fair Value of Asset | [1] | 0 | 0 | |||
Not Designated as Hedging Instrument [Member] | Accounts receivable [Member] | Forward Contracts [Member] | British Pound | ||||||
Derivative, Fair Value, Net [Abstract] | ||||||
Fair Value of Asset | [1] | 0 | 0 | |||
Not Designated as Hedging Instrument [Member] | Accounts receivable [Member] | Forward Contracts [Member] | Yuan | ||||||
Derivative, Fair Value, Net [Abstract] | ||||||
Fair Value of Asset | [1] | 0 | 1 | |||
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] | (5) | (24) | |||
Not Designated as Hedging Instrument [Member] | Accounts payable and accrued expenses [Member] | Forward Contracts [Member] | Yen | ||||||
Derivative, Fair Value, Net [Abstract] | ||||||
Fair Value of Liability | [2] | (4) | (24) | |||
Not Designated as Hedging Instrument [Member] | Accounts payable and accrued expenses [Member] | Forward Contracts [Member] | Singapore dollar | ||||||
Derivative, Fair Value, Net [Abstract] | ||||||
Fair Value of Liability | [2] | (1) | 0 | |||
Not Designated as Hedging Instrument [Member] | Accounts payable and accrued expenses [Member] | Forward Contracts [Member] | New Taiwan dollar | ||||||
Derivative, Fair Value, Net [Abstract] | ||||||
Fair Value of Liability | [2] | 0 | 0 | |||
Not Designated as Hedging Instrument [Member] | Accounts payable and accrued expenses [Member] | Forward Contracts [Member] | Shekel | ||||||
Derivative, Fair Value, Net [Abstract] | ||||||
Fair Value of Liability | [2] | 0 | 0 | |||
Not Designated as Hedging Instrument [Member] | Accounts payable and accrued expenses [Member] | Forward Contracts [Member] | Euro | ||||||
Derivative, Fair Value, Net [Abstract] | ||||||
Fair Value of Liability | [2] | 0 | 0 | |||
Not Designated as Hedging Instrument [Member] | Accounts payable and accrued expenses [Member] | Forward Contracts [Member] | British Pound | ||||||
Derivative, Fair Value, Net [Abstract] | ||||||
Fair Value of Liability | [2] | 0 | 0 | |||
Not Designated as Hedging Instrument [Member] | Accounts payable and accrued expenses [Member] | Forward Contracts [Member] | Yuan | ||||||
Derivative, Fair Value, Net [Abstract] | ||||||
Fair Value of Liability | [2] | $ 0 | 0 | |||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Forward Contracts [Member] | ||||||
Notional Disclosures [Abstract] | ||||||
Notional Amount Outstanding | 93 | |||||
Foreign Currency Derivatives [Abstract] | ||||||
General maturity of hedge contracts (in days or months) | 12 months | |||||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Forward Contracts [Member] | Yen | ||||||
Notional Disclosures [Abstract] | ||||||
Notional Amount Outstanding | $ 102 | 81 | ||||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Forward Contracts [Member] | Euro | ||||||
Notional Disclosures [Abstract] | ||||||
Notional Amount Outstanding | 12 | |||||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Accounts receivable [Member] | Forward Contracts [Member] | ||||||
Derivative, Fair Value, Net [Abstract] | ||||||
Fair Value of Asset | [1] | 3 | ||||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Accounts receivable [Member] | Forward Contracts [Member] | Yen | ||||||
Derivative, Fair Value, Net [Abstract] | ||||||
Fair Value of Asset | [1] | 1 | 3 | |||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Accounts receivable [Member] | Forward Contracts [Member] | Euro | ||||||
Derivative, Fair Value, Net [Abstract] | ||||||
Fair Value of Asset | [1] | 0 | ||||
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 | [2] | 0 | ||||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Accounts payable and accrued expenses [Member] | Forward Contracts [Member] | Yen | ||||||
Derivative, Fair Value, Net [Abstract] | ||||||
Fair Value of Liability | [2] | $ (2) | 0 | |||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Accounts payable and accrued expenses [Member] | Forward Contracts [Member] | Euro | ||||||
Derivative, Fair Value, Net [Abstract] | ||||||
Fair Value of Liability | [2] | $ 0 | ||||
[1] | Included in receivables – other. | |||||
[2] | Included in accounts payable and accrued expenses – other |
Derivative Financial Instrume73
Derivative Financial Instruments - Hedging Relationship (Details) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 03, 2015 | Dec. 04, 2014 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $ 1 | |
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 | (21) | $ (58) |
Not Designated as Hedging Instrument [Member] | Other Non-Operating Income Expense Net [Member] | Convertible notes settlement obligations [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Net gains (losses) for derivative instruments without hedge accounting designation | 0 | 6 |
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 | 1 | 2 |
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 | $ (4) | $ (15) |
Equity Plans - Share Based Comp
Equity Plans - Share Based Compensation (Details) - USD ($) $ / shares in Units, shares in Millions | 3 Months Ended | |
Dec. 03, 2015 | Dec. 04, 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) | 163 | |
Number of shares available for future awards (in shares) | 103 | |
Employee Stock Option [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ||
Fair Value Assumptions, Method Used | Black-Scholes | |
Stock options granted (in shares) | 2 | 1 |
Weighted-average grant-date fair values per share of options granted during period (in dollars per share) | $ 7.99 | $ 13.20 |
Average expected life (in years) | 5 years 7 months | 5 years 8 months |
Weighted-average expected volatility (in hundredths) | 46.00% | 47.00% |
Weighted-average risk-free interest rate (in thousandths) | 1.50% | 1.60% |
Expected dividends assumed in estimated option values | $ 0 | |
Restricted stock award [Member] | ||
Restricted Stock Awards activity | ||
Restricted Stock Awards outstanding (in shares) | 16 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ||
Restricted stock awards granted (in shares) | 3 | 2 |
Weighted-average grant-date fair value per share (in dollars per share) | $ 18.52 | $ 30.17 |
Restricted stock award [Member] | Service Based Awards [Member] | ||
Restricted Stock Awards activity | ||
Service-based restricted stock awards, annual incremental vesting (percentage) | 25.00% | |
Restricted stock award [Member] | Performance Shares [Member] | ||
Restricted Stock Awards activity | ||
Restricted Stock Awards outstanding (in shares) | 2 | |
Restricted stock award [Member] | Performance Shares [Member] | Share-based Compensation Award, Tranche One [Member] | Minimum [Member] | ||
Restricted Stock Awards activity | ||
Performance-based and market-based restricted award, Award Vesting Rights, Percentage | 0.00% | |
Restricted stock award [Member] | Performance Shares [Member] | Share-based Compensation Award, Tranche One [Member] | Maximum [Member] | ||
Restricted Stock Awards activity | ||
Performance-based and market-based restricted award, Award Vesting Rights, Percentage | 200.00% | |
Restricted stock award [Member] | Restricted Stock Awards With Performance Condition [Member] | Performance Shares [Member] | ||
Restricted Stock Awards activity | ||
Performance-based and market-based restricted award, Award Vesting Period | 3 years | |
Restricted stock award [Member] | Restricted Stock Awards With Market Condition [Member] | Performance Shares [Member] | ||
Restricted Stock Awards activity | ||
Performance-based and market-based restricted award, Award Vesting Period | 3 years |
Equity Plans - Stock-based comp
Equity Plans - Stock-based compensation expense (Details) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 03, 2015 | Dec. 04, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Stock-based compensation | $ 46 | $ 35 |
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 | $ 405 | |
Weighted average period that unrecognized compensation costs is expected to be recognized (in years) | 1 year 4 months | |
Stock Options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Stock-based compensation | $ 20 | 18 |
Restricted Stock Awards [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Stock-based compensation | 26 | 17 |
Cost of goods sold [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Stock-based compensation | 17 | 12 |
Selling, general and administrative [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Stock-based compensation | 18 | 15 |
Research and development [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Stock-based compensation | $ 11 | $ 8 |
Other Operating (Income) Expe76
Other Operating (Income) Expense, Net (Details) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 03, 2015 | Dec. 04, 2014 | |
Component Of Operating Other Income And Expense Net [Line Items] | ||
Restructure and asset impairments | $ 15 | $ 1 |
(Gain) loss on disposition of property, plant and equipment | 2 | (6) |
Other | 0 | (11) |
Other operating (income) expense, net | 17 | $ (16) |
Consortium Agreement [Member] | ||
Component Of Operating Other Income And Expense Net [Line Items] | ||
Restructure and asset impairments | 9 | |
Micron Technology Puerto Rico [Member] | ||
Component Of Operating Other Income And Expense Net [Line Items] | ||
Restructure and asset impairments | $ 5 |
Other Non-Operating Income (E77
Other Non-Operating Income (Expense), Net (Details) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 03, 2015 | Dec. 04, 2014 | |
Component of Other Non-Operating Income (Expense), Net [Line Items] | ||
Gain (loss) from changes in currency exchange rates | $ (3) | $ (21) |
Loss on restructure of debt | (1) | (30) |
Other | 0 | 2 |
Other non-operating income (expense), net | $ (4) | $ (49) |
Income Taxes (Details 1)
Income Taxes (Details 1) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 03, 2015 | Dec. 04, 2014 | |
Tidal Systems, Ltd. [Member] | ||
Valuation allowance release from Tidal acquisition | $ 41 | |
MMJ Group [Member] | ||
Deferred foreign income tax expense at MMJ | $ 22 | $ 38 |
Income Taxes - Estimated Potent
Income Taxes - Estimated Potential Changes to Unrecognized Tax Benefits (Details 2) | Dec. 03, 2015USD ($) |
Minimum [Member] | |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | |
Estimated potential reduction in our unrecognized tax benefits in the next 12 months | $ 0 |
Maximum [Member] | |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | |
Estimated potential reduction in our unrecognized tax benefits in the next 12 months | $ 68,000,000 |
Income Taxes - Tax Holiday (Det
Income Taxes - Tax Holiday (Details 3) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | |
Dec. 03, 2015 | Dec. 04, 2014 | |
Income Tax Holiday [Line Items] | ||
Tax benefit due to arrangements allowing computation of tax provision at rates below local statutory rates | $ 12 | $ 140 |
Tax benefit per diluted share due to arrangements allowing computation of tax provision at rates below local statutory rates (in dollars per share) | $ 0.01 | $ 0.12 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | |
Dec. 03, 2015 | Dec. 04, 2014 | |
Earnings Per Share Reconciliation [Abstract] | ||
Net income available to Micron shareholders – Basic | $ 206 | $ 1,003 |
Dilutive effect related to equity method investment | 0 | (1) |
Net income (loss) available to Micron shareholders – Diluted | $ 206 | $ 1,002 |
Weighted Average Number of Shares Outstanding Reconciliation [Abstract] | ||
Weighted-average common shares outstanding - Basic (in shares) | 1,035 | 1,070 |
Dilutive effect of equity plans and convertible notes (in shares) | 50 | 125 |
Weighted-average common shares outstanding - Diluted (in shares) | 1,085 | 1,195 |
Earnings Per Share, Basic [Abstract] | ||
Basic (in dollars per share) | $ 0.20 | $ 0.94 |
Earnings Per Share, Diluted [Abstract] | ||
Diluted (in dollars per share) | $ 0.19 | $ 0.84 |
Earnings Per Share - Potential
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 | |
Dec. 03, 2015 | Dec. 04, 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) | 66 | 9 |
Segment Information (Details)
Segment Information (Details) $ in Millions | 3 Months Ended | |
Dec. 03, 2015USD ($)integer | Dec. 04, 2014USD ($) | |
Segment Reporting Information [Line Items] | ||
Net sales | $ 3,350 | $ 4,573 |
Operating income (loss) | $ 232 | 1,085 |
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract] | ||
Number of Reportable Segments | integer | 4 | |
CNBU [Member] | ||
Segment Reporting Information [Line Items] | ||
Net sales | $ 1,139 | 2,088 |
Operating income (loss) | 14 | 623 |
SBU [Member] | ||
Segment Reporting Information [Line Items] | ||
Net sales | 884 | 984 |
Operating income (loss) | (33) | 26 |
MBU [Member] | ||
Segment Reporting Information [Line Items] | ||
Net sales | 834 | 940 |
Operating income (loss) | 135 | 306 |
EBU [Member] | ||
Segment Reporting Information [Line Items] | ||
Net sales | 479 | 539 |
Operating income (loss) | 113 | 118 |
All Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Net sales | 14 | 22 |
Operating income (loss) | $ 3 | $ 12 |
Certain Concentrations (Details
Certain Concentrations (Details) | 3 Months Ended |
Dec. 03, 2015 | |
Sales Revenue, Goods, Net [Member] | Customer Concentration Risk [Member] | Intel [Member] | |
Concentration Risk [Line Items] | |
Concentration risk, percentage of net sales (in hundreths) | 11.00% |