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

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

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12 months ended: Sep 3, 2020 Aug 29, 2019 Aug 30, 2018 Aug 31, 2017 Sep 1, 2016 Sep 3, 2015
Revenue 21,435  23,406  30,391  20,322  12,399  16,192 
Cost of goods sold (14,883) (12,704) (12,500) (11,886) (9,894) (10,977)
Gross margin 6,552  10,702  17,891  8,436  2,505  5,215 
Research and development (2,600) (2,441) (2,141) (1,824) (1,617) (1,540)
Selling, general, and administrative (881) (836) (813) (743) (659) (719)
Restructure and asset impairments (60) 29  (28) (18) (67) (3)
Gain (loss) on disposition of property, plant, and equipment 3  (43) 96  22  4  17 
Other (11) (35) (11) (5) 2  28 
Other operating income (expense), net (68) (49) 57  (1) (61) 42 
Operating income 3,003  7,376  14,994  5,868  168  2,998 
Interest income 114  205  120  41  42  35 
Interest expense (194) (128) (342) (601) (437) (371)
Gain (loss) on debt prepayments, repurchases, and conversions 40  (396) (385) (100) (4) (49)
Loss from changes in currency exchange rates (8) (9) (75) (74) (24) (27)
Gain on remeasurement of previously-held equity interest in Inotera —  —  —  71  —  — 
Other 28  —  (5) (9) (26) 23 
Other non-operating income (expense), net 60  (405) (465) (112) (54) (53)
Income (loss) before income tax provision and equity in net income (loss) of equity method investees 2,983  7,048  14,307  5,196  (281) 2,609 
Income tax provision (280) (693) (168) (114) (19) (157)
Equity in net income (loss) of equity method investees 7  3  (1) 8  25  447 
Net income (loss) 2,710  6,358  14,138  5,090  (275) 2,899 
Net income attributable to noncontrolling interests (23) (45) (3) (1) (1) — 
Net income (loss) attributable to Micron 2,687  6,313  14,135  5,089  (276) 2,899 

Based on: 10-K (filing date: 2020-10-19), 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).

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 decreased from 2018 to 2019 and from 2019 to 2020.
Operating income The net result for the period of deducting operating expenses from operating revenues. Micron Technology Inc.’s operating income decreased from 2018 to 2019 and from 2019 to 2020.
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.’s income (loss) before income tax provision and equity in net income (loss) of equity method investees decreased from 2018 to 2019 and from 2019 to 2020.
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 decreased from 2018 to 2019 and from 2019 to 2020.