Micron Technology Inc. (NASDAQ:MU)

Current liabilities demonstrate fluctuations over the presented periods, starting at 6,317 million US dollars and peaking at 11,454 million US dollars in late 2025. There is an observable sharp increase beginning around early 2024, primarily driven by a substantial rise in accounts payable and accrued expenses, which surged from approximately 3,946 million US dollars in late 2023 to nearly 9,796 million US dollars by late 2025.

Current debt remains relatively low throughout the period, fluctuating mostly under 1,000 million US dollars, with a slight increase to 908 million in early 2024 but later stabilizing around 500-560 million US dollars. Other current liabilities also fluctuate but exhibit a general increasing trend towards 2025, reaching 1,695 million US dollars.

Long-term debt shows a general upward trend from approximately 5,188 million US dollars in 2019 to a peak exceeding 15,000 million in late 2024 before declining to around 11,187 million US dollars by late 2025. The trend indicates periods of debt issuance and repayments or refinancing activities.

Noncurrent liabilities, including operating lease liabilities, unearned government incentives, and other noncurrent liabilities, all present mixed trends but overall growth until around late 2024, followed by a decrease in the final period. Notably, other noncurrent liabilities nearly double from 426 million US dollars to over 2,100 million US dollars, indicating increased obligations or accruals in this category.

Total liabilities increased steadily from 13,051 million US dollars in late 2019 to a high of approximately 28,633 million US dollars by late 2024, before decreasing to 27,165 million in the last quarter. This reflects the combined effect of increases in various components, especially accounts payable and long-term debt.

Shareholders’ equity has exhibited a consistent upward trajectory from 36,500 million US dollars in late 2019 to 58,806 million US dollars by late 2025, reflecting growth of approximately 61%. This increase has been driven primarily by retained earnings, which grew from 31,218 million to 53,344 million US dollars over the same period, indicating profitability and earnings retention.

Treasury stock has increased in absolute value negatively (from -3,271 million to -8,152 million US dollars), suggesting ongoing repurchases of shares or increased treasury holdings, which reduces overall equity but signals potential management confidence or capital structure strategy.

Additional capital rose steadily, moving from 8,428 million US dollars to 13,610 million, consistent with capital infusions or issuance of stock. Common stock par value remained stable with minor increments reflective of slight changes in stock issuance.

Accumulated other comprehensive income/loss fluctuated between modest positive and negative amounts but shows a slight downward shift towards negative territory in later periods, which may reflect unrealized losses or other comprehensive adjustments.

Total liabilities and equity combined increased significantly from 49,649 million US dollars at the start to 85,971 million in the latest period, emphasizing substantial growth in the company’s balance sheet size over time.

The data reveals a robust expansion in both liabilities and equity, with a notable acceleration in liabilities, particularly accounts payable and accrued expenses, in the most recent periods. This might indicate increased operational activities, supply chain financing, or other short-term obligations.

The rise in shareholders’ equity and retained earnings suggests sustained profitability and earnings reinvestment, supporting balance sheet strengthening despite increasing liabilities.

Fluctuations in debt levels, especially long-term debt, imply active capital management, including potential refinancing or strategic leveraging and deleveraging at different times throughout the timeline.

Overall, the trends indicate a growing entity increasing both operational scale and financial commitments, while maintaining positive equity growth, which signals financial stability alongside expanding operational demands.