Name: Micron Technology Inc. (NASDAQ:MU) | Liabilities and Stockholders’ Equity
Creator: Stock Analysis on Net

Balance Sheet: Liabilities and Stockholders’ Equity

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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Micron Technology Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Sep 3, 2026	Aug 28, 2025	Aug 29, 2024	Aug 31, 2023	Sep 1, 2022	Sep 2, 2021
Accounts payable	3,518)	3,132)	2,726)	1,725)	2,142)	1,744)
Property, plant, and equipment	8,618)	4,391)	2,925)	1,419)	2,170)	1,887)
Income and other taxes	5,626)	628)	218)	67)	420)	364)
Salaries, wages, and benefits	4,447)	1,116)	1,117)	367)	877)	984)
Other	396)	382)	313)	380)	481)	346)
Accounts payable and accrued expenses	22,605)	9,649)	7,299)	3,958)	6,090)	5,325)
Current debt	491)	560)	431)	278)	103)	155)
Other current liabilities	4,386)	1,245)	1,518)	529)	1,346)	944)
Current liabilities	27,482)	11,454)	9,248)	4,765)	7,539)	6,424)
Long-term debt	4,688)	14,017)	12,966)	13,052)	6,803)	6,621)
Noncurrent unearned government incentives	786)	1,018)	550)	727)	589)	808)
Noncurrent customer contract liabilities	12,895)	142)	—)	—)	—)	—)
Other noncurrent liabilities	11,659)	2,002)	1,521)	1,590)	1,445)	1,063)
Noncurrent liabilities	30,028)	17,179)	15,037)	15,369)	8,837)	8,492)
Total liabilities	57,510)	28,633)	24,285)	20,134)	16,376)	14,916)
Common stock, $0.10 par value	128)	127)	125)	124)	123)	122)
Additional capital	14,974)	13,339)	12,115)	11,036)	10,197)	9,453)
Retained earnings	131,851)	48,583)	40,877)	40,824)	47,274)	39,051)
Treasury stock	(8,502)	(7,852)	(7,852)	(7,552)	(7,127)	(4,695)
Accumulated other comprehensive income (loss)	(73)	(32)	(134)	(312)	(560)	2)
Shareholders’ equity	138,378)	54,165)	45,131)	44,120)	49,907)	43,933)
Total liabilities and equity	195,888)	82,798)	69,416)	64,254)	66,283)	58,849)

Based on: 10-K (reporting date: 2026-09-03), 10-K (reporting date: 2025-08-28), 10-K (reporting date: 2024-08-29), 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02).

An analysis of the balance sheet reveals a substantial expansion in the company's total capital structure, with both total liabilities and shareholders' equity experiencing significant growth over the observed period. Total liabilities and equity rose from 58,849 million in 2021 to 195,888 million by 2026, indicating a massive scaling of the balance sheet.

Liability Composition and Trends: Total liabilities increased steadily from 14,916 million in 2021 to 28,633 million in 2025, before surging to 57,510 million in 2026. Current liabilities followed a similar trajectory, growing from 6,424 million in 2021 to 27,482 million in 2026. This increase was primarily driven by a sharp rise in accounts payable and accrued expenses, which escalated from 5,325 million to 22,605 million. Additionally, income and other taxes showed a dramatic spike in 2026, reaching 5,626 million compared to 628 million in the previous year.
Long-Term Obligations and Contractual Liabilities: Noncurrent liabilities grew from 8,492 million in 2021 to 30,028 million in 2026. A notable shift is observed in the debt profile; long-term debt increased from 6,621 million in 2021 to a peak of 14,017 million in 2025, only to be significantly reduced to 4,688 million in 2026. This reduction coincided with a massive increase in noncurrent customer contract liabilities, which rose from 142 million in 2025 to 12,895 million in 2026, suggesting a transition toward contract-based obligations or deferred revenue.
Shareholders' Equity and Capital Retention: Shareholders' equity demonstrated strong growth, increasing from 43,933 million in 2021 to 138,378 million in 2026. The primary driver of this expansion was retained earnings, which climbed from 39,051 million to 131,851 million, reflecting significant cumulative profitability. Additional capital also saw a consistent upward trend, moving from 9,453 million in 2021 to 14,974 million in 2026. Treasury stock remained relatively stable, increasing slightly in magnitude from -4,695 million to -8,502 million over the period.
Operational Expenditure Trends within Liabilities: Several operational items listed within the liability framework showed exponential growth in the final year. Salaries, wages, and benefits rose from 1,116 million in 2025 to 4,447 million in 2026. Similarly, property, plant, and equipment values increased from 4,391 million in 2025 to 8,618 million in 2026, indicating a period of rapid asset expansion and increased operational costs.

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