Stock Analysis on Net
Stock Analysis on Net
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Micron Technology Inc. (NASDAQ:MU)

Income Statement

Beginner level

Micron Technology Inc., consolidated income statement

US$ in millions

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12 months ended: Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016 Sep 3, 2015 Aug 28, 2014
Revenue 23,406  30,391  20,322  12,399  16,192  16,358 
Cost of goods sold (12,704) (12,500) (11,886) (9,894) (10,977) (10,921)
Gross margin 10,702  17,891  8,436  2,505  5,215  5,437 
Selling, general, and administrative (836) (813) (743) (659) (719) (707)
Research and development (2,441) (2,141) (1,824) (1,617) (1,540) (1,371)
Gain (loss) on disposition of property, plant, and equipment (43) 96  22  17  (10)
Restructure and asset impairments 29  (28) (18) (67) (3) (40)
Rambus settlement —  —  —  —  —  (233)
Other (35) (11) (5) 28  11 
Other operating income (expense), net (49) 57  (1) (61) 42  (272)
Operating income 7,376  14,994  5,868  168  2,998  3,087 
Interest income 205  120  41  42  35  23 
Interest expense (128) (342) (601) (437) (371) (352)
Loss on debt prepayments, repurchases, and conversions (396) (385) (100) (4) (49) (184)
Loss from changes in currency exchange rates (9) (75) (74) (24) (27) (28)
Gain on remeasurement of previously-held equity interest in Inotera —  —  71  —  —  — 
Gain from issuance of Inotera shares —  —  —  —  —  93 
Other —  (5) (9) (26) 23  94 
Other non-operating income (expense), net (405) (465) (112) (54) (53) (25)
Income before income tax provision and equity in net income (loss) of equity method investees 7,048  14,307  5,196  (281) 2,609  2,733 
Income tax provision (693) (168) (114) (19) (157) (128)
Equity in net income (loss) of equity method investees (1) 25  447  474 
Net income (loss) 6,358  14,138  5,090  (275) 2,899  3,079 
Net income attributable to noncontrolling interests (45) (3) (1) (1) —  (34)
Net income (loss) attributable to Micron 6,313  14,135  5,089  (276) 2,899  3,045 

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).

Income statement item Description The company
Revenue Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Micron Technology Inc.’s revenue increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.
Operating income The net result for the period of deducting operating expenses from operating revenues. Micron Technology Inc.’s operating income increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.
Income before income tax provision and equity in net income (loss) of equity method investees Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Micron Technology Inc.’s income before income tax provision and equity in net income (loss) of equity method investees increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.
Net income (loss) attributable to Micron The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Micron Technology Inc.’s net income (loss) attributable to Micron increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.