Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Micron Technology Inc. (NASDAQ:MU)

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Analysis of Debt

Advanced level


Total Debt (Carrying Amount)

Micron Technology Inc., balance sheet: debt

US$ in millions

Microsoft Excel LibreOffice Calc
Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016 Sep 3, 2015 Aug 28, 2014
Current debt
Long-term debt
Total debt instruments (carrying amount)

Based on: 10-K (filing date: 2019-10-17), 10-K (filing date: 2018-10-15), 10-K (filing date: 2017-10-26), 10-K (filing date: 2016-10-28), 10-K (filing date: 2015-10-27), 10-K (filing date: 2014-10-27).

Debt item Description The company
Total debt instruments (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. Micron Technology Inc.’s total debt decreased from 2017 to 2018 but then slightly increased from 2018 to 2019.

Total Debt (Fair Value)

Microsoft Excel LibreOffice Calc
Aug 29, 2019
Selected Financial Data (US$ in millions)
Notes and MMJ Creditor Payments
Convertible notes
Capital lease obligations
Total debt instruments (fair value)
Financial Ratio
Debt, fair value to carrying amount ratio

Based on: 10-K (filing date: 2019-10-17).


Weighted-average Interest Rate on Debt

Weighted-average effective interest rate on debt:

Interest Rate Debt Amount1 Interest Rate × Debt Amount Weighted-average Interest Rate2
Total

Based on: 10-K (filing date: 2019-10-17).

1 US$ in millions

2 Weighted-average interest rate = 100 × ÷ =


Interest Costs Incurred

Micron Technology Inc., interest costs incurred

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016 Sep 3, 2015 Aug 28, 2014
Interest expense
Interest capitalized as part of the cost of property, plant, and equipment
Interest costs incurred

Based on: 10-K (filing date: 2019-10-17), 10-K (filing date: 2018-10-15), 10-K (filing date: 2017-10-26), 10-K (filing date: 2016-10-28), 10-K (filing date: 2015-10-27), 10-K (filing date: 2014-10-27).

Debt item Description The company
Interest expense Amount of the cost of borrowed funds accounted for as interest expense for debt. Micron Technology Inc.’s interest expense decreased from 2017 to 2018 and from 2018 to 2019.
Interest capitalized as part of the cost of property, plant, and equipment Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. Micron Technology Inc.’s interest capitalized as part of the cost of property, plant, and equipment increased from 2017 to 2018 and from 2018 to 2019.
Interest costs incurred Total interest costs incurred during the period and either capitalized or charged against earnings. Micron Technology Inc.’s interest costs incurred decreased from 2017 to 2018 and from 2018 to 2019.

Adjusted Interest Coverage Ratio

Microsoft Excel LibreOffice Calc
Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016 Sep 3, 2015 Aug 28, 2014
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Micron
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
 
Interest costs incurred
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)1
Adjusted interest coverage ratio (with capitalized interest)2

Based on: 10-K (filing date: 2019-10-17), 10-K (filing date: 2018-10-15), 10-K (filing date: 2017-10-26), 10-K (filing date: 2016-10-28), 10-K (filing date: 2015-10-27), 10-K (filing date: 2014-10-27).

2019 Calculations

1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense
= ÷ =

2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest costs incurred
= ÷ =


Solvency ratio Description The company
Adjusted interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). Micron Technology Inc.’s adjusted interest coverage ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019.