Micron Technology Inc. (NASDAQ:MU)

Current liabilities as a percentage of total liabilities and equity exhibited fluctuations over the analyzed timeframe, starting at 11.64% in late 2018, peaking near 15.5% in early 2019, and subsequently declining to a low around 7.42% in mid-2023 before rising again to 12.93% by late 2024. Accounts payable and accrued expenses similarly show variability, initially declining from 9.42% to about 6.16% by mid-2023, followed by a resurgence to over 11% by late 2024.

Current debt's share experienced erratic movements, peaking sharply at 5.55% in early 2019 but generally remaining below 1% in most quarters thereafter, with a minor increase observed near early 2024.

Other current liabilities maintained a relatively low and stable proportion, fluctuating between approximately 0.82% and 2.19%, with a modest upward shift in late 2024.

Long-term debt's representation increased continuously, rising from 8.37% in late 2018 to a peak exceeding 20% from mid-2023 onwards, suggesting increased reliance on long-range borrowing or obligations.

Noncurrent liabilities overall, which include operating lease liabilities, unearned government incentives, and other noncurrent liabilities, gradually grew from roughly 10.24% to exceed 23% by mid-2023, later slightly declining to approximately 22.3% by mid-2025.

Notably, noncurrent operating lease liabilities appeared from early 2019 and hovered close to 0.8–1% over the examined periods, maintaining a steady contribution.

Noncurrent unearned government incentives decreased moderately from about 1.34% in early 2019 to lower values near 0.77% by mid-2025, indicating a reduction in deferred incentives over time.

Other noncurrent liabilities remained a minor yet steady component, generally between 0.7% and 1.7%.

The overall total liabilities exhibit an upward trend from approximately 21.88% in late 2018 to a peak approaching 35% by mid-2025, marking increased total obligations relative to equity. This rise is predominantly driven by growth in long-term debt and noncurrent liabilities.

Total shareholders’ equity experienced a gradual decline during the period, starting near 76% and decreasing to roughly 65% towards mid-2025. This decrease aligns with the relative growth in liabilities mentioned above.

Within equity components, retained earnings consistently formed the largest portion, growing from 62.27% to a peak exceeding 70% in mid-2022, before declining gradually to about 58% by mid-2025, suggesting periods of strong profitability followed by some erosion or alternative allocation.

Additional capital remained relatively stable, fluctuating narrowly around 15% to 18%, showing no significant structural shifts.

Common stock's proportional presence marginally decreased from 0.26% to about 0.16%, indicating slight dilution or other equity changes over time.

Treasury stock, representing repurchased shares, expanded its negative impact on equity from around -5.3% to nearly -10%, reflecting increased share buyback activity or accounting adjustments reducing shareholders’ equity.

Accumulated other comprehensive income or loss exhibited minor negative values in recent periods, generally under -0.5%, indicating modest unrealized losses or adjustments impacting total equity.

Noncontrolling interests and redeemable convertible notes were negligible or absent throughout the periods analyzed, bearing minimal influence on the capital structure.

The total liabilities and equity consistently sum to 100%, confirming the dataset's normalized percentage presentation and ensuring the observed trends reflect relative rather than absolute changes.