Income Statement

The income statement presents information on the financial results of a company 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 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020	Aug 29, 2019	Aug 30, 2018
Revenue	15,540)	30,758)	27,705)	21,435)	23,406)	30,391)
Cost of goods sold	(16,956)	(16,860)	(17,282)	(14,883)	(12,704)	(12,500)
Gross margin	(1,416)	13,898)	10,423)	6,552)	10,702)	17,891)
Research and development	(3,114)	(3,116)	(2,663)	(2,600)	(2,441)	(2,141)
Selling, general, and administrative	(920)	(1,066)	(894)	(881)	(836)	(813)
Restructure and asset impairments	(171)	(48)	(488)	(60)	29)	(28)
Goodwill impairment	(101)	—)	—)	—)	—)	—)
Litigation settlement	(68)	—)	—)	—)	—)	—)
Patent license charges	—)	—)	(128)	—)	—)	—)
Gain (loss) on disposition of property, plant, and equipment	54)	41)	24)	3)	(43)	96)
Other	(9)	(7)	9)	(11)	(35)	(11)
Other operating income (expense), net	(124)	34)	(95)	(8)	(78)	85)
Operating income (loss)	(5,745)	9,702)	6,283)	3,003)	7,376)	14,994)
Interest income	468)	96)	37)	114)	205)	120)
Interest expense	(388)	(189)	(183)	(194)	(128)	(342)
Gain (loss) on investments	(8)	26)	82)	22)	(4)	—)
Gain (loss) on debt repurchases and conversions	—)	(83)	(1)	40)	(396)	(385)
Other	15)	19)	—)	(2)	(5)	(80)
Other non-operating income (expense), net	7)	(38)	81)	60)	(405)	(465)
Income (loss) before income tax provision and equity in net income (loss) of equity method investees	(5,658)	9,571)	6,218)	2,983)	7,048)	14,307)
Income tax provision	(177)	(888)	(394)	(280)	(693)	(168)
Equity in net income (loss) of equity method investees	2)	4)	37)	7)	3)	(1)
Net income (loss)	(5,833)	8,687)	5,861)	2,710)	6,358)	14,138)
Net income attributable to noncontrolling interests	—)	—)	—)	(23)	(45)	(3)
Net income (loss) attributable to Micron	(5,833)	8,687)	5,861)	2,687)	6,313)	14,135)

Based on: 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29), 10-K (reporting date: 2018-08-30).

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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. revenue increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Operating income (loss)	The net result for the period of deducting operating expenses from operating revenues.	Micron Technology Inc. operating income (loss) increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Income (loss) 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. income (loss) before income tax provision and equity in net income (loss) of equity method investees increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
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. net income (loss) attributable to Micron increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Micron Technology Inc. (NASDAQ:MU)

Income Statement