Micron Technology Inc., adjustment to net income (loss) attributable to Micron

US$ in millions

12 months ended:	Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020	Aug 29, 2019	Aug 30, 2018
Net income (loss) attributable to Micron (as reported)	(5,833)	8,687)	5,861)	2,687)	6,313)	14,135)
Add: Unrealized gains (losses) on investments	6)	(48)	(7)	1)	9)	(2)
Net income (loss) attributable to Micron (adjusted)	(5,827)	8,639)	5,854)	2,688)	6,322)	14,133)

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Micron Technology Inc., adjusted profitability ratios

	Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020	Aug 29, 2019	Aug 30, 2018
Net Profit Margin
Reported net profit margin	-37.54%	28.24%	21.16%	12.54%	26.97%	46.51%
Adjusted net profit margin	-37.50%	28.09%	21.13%	12.54%	27.01%	46.50%
Return on Equity (ROE)
Reported ROE	-13.22%	17.41%	13.34%	6.89%	17.59%	43.77%
Adjusted ROE	-13.21%	17.31%	13.32%	6.89%	17.62%	43.76%
Return on Assets (ROA)
Reported ROA	-9.08%	13.11%	9.96%	5.01%	12.91%	32.59%
Adjusted ROA	-9.07%	13.03%	9.95%	5.01%	12.93%	32.58%

Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	Micron Technology Inc. adjusted net profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by shareholders’ equity.	Micron Technology Inc. adjusted ROE improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by total assets.	Micron Technology Inc. adjusted ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

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	Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020	Aug 29, 2019	Aug 30, 2018
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Micron	(5,833)	8,687)	5,861)	2,687)	6,313)	14,135)
Revenue	15,540)	30,758)	27,705)	21,435)	23,406)	30,391)
Profitability Ratio
Net profit margin¹	-37.54%	28.24%	21.16%	12.54%	26.97%	46.51%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income (loss) attributable to Micron	(5,827)	8,639)	5,854)	2,688)	6,322)	14,133)
Revenue	15,540)	30,758)	27,705)	21,435)	23,406)	30,391)
Profitability Ratio
Adjusted net profit margin²	-37.50%	28.09%	21.13%	12.54%	27.01%	46.50%

2023 Calculations

¹ Net profit margin = 100 × Net income (loss) attributable to Micron ÷ Revenue
= 100 × -5,833 ÷ 15,540 = -37.54%

² Adjusted net profit margin = 100 × Adjusted net income (loss) attributable to Micron ÷ Revenue
= 100 × -5,827 ÷ 15,540 = -37.50%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	Micron Technology Inc. adjusted net profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

	Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020	Aug 29, 2019	Aug 30, 2018
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Micron	(5,833)	8,687)	5,861)	2,687)	6,313)	14,135)
Total Micron shareholders’ equity	44,120)	49,907)	43,933)	38,996)	35,881)	32,294)
Profitability Ratio
ROE¹	-13.22%	17.41%	13.34%	6.89%	17.59%	43.77%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income (loss) attributable to Micron	(5,827)	8,639)	5,854)	2,688)	6,322)	14,133)
Total Micron shareholders’ equity	44,120)	49,907)	43,933)	38,996)	35,881)	32,294)
Profitability Ratio
Adjusted ROE²	-13.21%	17.31%	13.32%	6.89%	17.62%	43.76%

2023 Calculations

¹ ROE = 100 × Net income (loss) attributable to Micron ÷ Total Micron shareholders’ equity
= 100 × -5,833 ÷ 44,120 = -13.22%

² Adjusted ROE = 100 × Adjusted net income (loss) attributable to Micron ÷ Total Micron shareholders’ equity
= 100 × -5,827 ÷ 44,120 = -13.21%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by shareholders’ equity.	Micron Technology Inc. adjusted ROE improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

	Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020	Aug 29, 2019	Aug 30, 2018
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Micron	(5,833)	8,687)	5,861)	2,687)	6,313)	14,135)
Total assets	64,254)	66,283)	58,849)	53,678)	48,887)	43,376)
Profitability Ratio
ROA¹	-9.08%	13.11%	9.96%	5.01%	12.91%	32.59%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income (loss) attributable to Micron	(5,827)	8,639)	5,854)	2,688)	6,322)	14,133)
Total assets	64,254)	66,283)	58,849)	53,678)	48,887)	43,376)
Profitability Ratio
Adjusted ROA²	-9.07%	13.03%	9.95%	5.01%	12.93%	32.58%

2023 Calculations

¹ ROA = 100 × Net income (loss) attributable to Micron ÷ Total assets
= 100 × -5,833 ÷ 64,254 = -9.08%

² Adjusted ROA = 100 × Adjusted net income (loss) attributable to Micron ÷ Total assets
= 100 × -5,827 ÷ 64,254 = -9.07%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by total assets.	Micron Technology Inc. adjusted ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Micron Technology Inc. (NASDAQ:MU)

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