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.

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

US$ in millions

	Aug 28, 2025	Aug 29, 2024	Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020
Accounts payable	3,132)	2,726)	1,725)	2,142)	1,744)	2,191)
Property, plant, and equipment	4,391)	2,925)	1,419)	2,170)	1,887)	2,374)
Salaries, wages, and benefits	1,116)	1,117)	367)	877)	984)	849)
Income and other taxes	628)	218)	67)	420)	364)	237)
Other	382)	313)	380)	481)	346)	166)
Accounts payable and accrued expenses	9,649)	7,299)	3,958)	6,090)	5,325)	5,817)
Current debt	560)	431)	278)	103)	155)	270)
Other current liabilities	1,245)	1,518)	529)	1,346)	944)	548)
Current liabilities	11,454)	9,248)	4,765)	7,539)	6,424)	6,635)
Long-term debt	14,017)	12,966)	13,052)	6,803)	6,621)	6,373)
Noncurrent operating lease liabilities	701)	610)	603)	610)	504)	533)
Noncurrent unearned government incentives	1,018)	550)	727)	589)	808)	643)
Other noncurrent liabilities	1,443)	911)	987)	835)	559)	498)
Noncurrent liabilities	17,179)	15,037)	15,369)	8,837)	8,492)	8,047)
Total liabilities	28,633)	24,285)	20,134)	16,376)	14,916)	14,682)
Common stock, $0.10 par value	127)	125)	124)	123)	122)	119)
Additional capital	13,339)	12,115)	11,036)	10,197)	9,453)	8,917)
Retained earnings	48,583)	40,877)	40,824)	47,274)	39,051)	33,384)
Treasury stock	(7,852)	(7,852)	(7,552)	(7,127)	(4,695)	(3,495)
Accumulated other comprehensive income (loss)	(32)	(134)	(312)	(560)	2)	71)
Shareholders’ equity	54,165)	45,131)	44,120)	49,907)	43,933)	38,996)
Total liabilities and equity	82,798)	69,416)	64,254)	66,283)	58,849)	53,678)

Based on: 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), 10-K (reporting date: 2020-09-03).

The financial condition over the reported periods demonstrates several key trends in liabilities, equity, and assets. Overall, total liabilities have shown a consistent increasing pattern, rising from $14.7 billion in 2020 to $28.6 billion in 2025. This growth is driven mainly by a sharp increase in long-term debt, which more than doubles from $6.4 billion in 2020 to $14.0 billion in 2025, with a particularly significant rise occurring between 2022 and 2023. Current liabilities also exhibit notable fluctuation, initially rising until 2022, dipping in 2023, and then increasing markedly by 2025 to $11.5 billion.

Within current liabilities, accounts payable and accrued expenses vary considerably, declining from $5.8 billion in 2020 to $3.9 billion in 2023, then surging to $9.6 billion by 2025. Similarly, accounts payable alone show variability but trend upward overall, ending significantly higher at $3.1 billion compared to $2.2 billion in 2020. Other current liabilities experienced growth until 2022, a sharp drop in 2023, followed by a rebound by 2025. Current debt remains relatively low but increases steadily in the later years.

Noncurrent liabilities increase substantially over the period, reflecting rising obligations beyond the current operating lease liabilities and government incentives. Other noncurrent liabilities nearly triple from $498 million to $1.4 billion between 2020 and 2025. This contributes to the overall expansion of total noncurrent liabilities, which climb from $8.0 billion to $17.2 billion.

On the asset side, property, plant, and equipment show notable volatility. After a decline between 2020 and 2023, there is a sharp recovery and significant growth in 2024 and 2025, reaching $4.4 billion, nearly doubling the 2020 level. This suggests major capital expenditure or asset acquisitions in the latest periods.

Operating expenses such as salaries, wages, and benefits fluctuate during the timeline, with a decrease in 2023 followed by a recovery to previous levels by 2024 and 2025. Income and other taxes similarly decline sharply in 2023 before increasing to a record high of $628 million in 2025, which may reflect changes in profitability or tax planning.

Equity components reveal growth in shareholders’ equity from $39.0 billion in 2020 to $54.2 billion in 2025, although not in a strictly linear fashion due to a dip in 2023. This growth is supported by increases in retained earnings and additional capital, while treasury stock steadily increases in absolute negative value, indicating share buybacks or treasury share holdings over time. Accumulated other comprehensive income (loss) showed a downward trend with negative balances from 2022 onwards, slightly recovering by 2025 but remaining negative.

Overall, total assets and total liabilities and equity reflect growth, with the total increasing from $53.7 billion in 2020 to $82.8 billion in 2025. The data indicate significant leveraging through long-term debt, increased capital investment in fixed assets, and growth in shareholders' equity backed by retained earnings and additional capital contributions. The volatility in current liabilities and income taxes suggests operational and financial fluctuations, with marked recovery and growth in later periods.

Liabilities: Sharp increase in long-term debt and total liabilities, particularly post-2022.; Current liabilities fluctuate with a notable decrease in 2023, followed by strong growth in subsequent years.; Noncurrent liabilities grow steadily, driven by other noncurrent liabilities and operating lease liabilities.
Assets and Expenses: Property, plant, and equipment show volatility but significant expansion in the final years.; Salaries, wages, and benefits vary, with a dip in 2023 and recovery thereafter.; Income and other taxes decline sharply in 2023, then increase substantially by 2025.
Equity: Shareholders’ equity grows overall, supported by increases in retained earnings and additional capital.; Treasury stock consistently increases in negative value, signaling ongoing buybacks or treasury shares.; Accumulated other comprehensive income (loss) turns negative from 2022 onward with minor recovery.
Overall Financial Position: Total assets and total liabilities and equity grow substantially, indicating expansion and increased leveraging.; Capital investments and financing activities reflect strategic scaling of operations and balance sheet management.

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Micron Technology Inc. (NASDAQ:MU)

Balance Sheet: Liabilities and Stockholders’ Equity