Income Statement

Beginner level

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Micron Technology Inc., consolidated income statement

US$ in millions

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	4	17	(10)
Restructure and asset impairments	29	(28)	(18)	(67)	(3)	(40)
Rambus settlement	—	—	—	—	—	(233)
Other	(35)	(11)	(5)	2	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	3	(1)	8	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.

Micron Technology Inc. (NASDAQ:MU)

Income Statement