Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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Micron Technology Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-02-26), 10-Q (reporting date: 2025-11-27), 10-K (reporting date: 2025-08-28), 10-Q (reporting date: 2025-05-29), 10-Q (reporting date: 2025-02-27), 10-Q (reporting date: 2024-11-28), 10-K (reporting date: 2024-08-29), 10-Q (reporting date: 2024-05-30), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-06-01), 10-Q (reporting date: 2023-03-02), 10-Q (reporting date: 2022-12-01), 10-K (reporting date: 2022-09-01), 10-Q (reporting date: 2022-06-02), 10-Q (reporting date: 2022-03-03), 10-Q (reporting date: 2021-12-02), 10-K (reporting date: 2021-09-02), 10-Q (reporting date: 2021-06-03), 10-Q (reporting date: 2021-03-04), 10-Q (reporting date: 2020-12-03), 10-K (reporting date: 2020-09-03), 10-Q (reporting date: 2020-05-28), 10-Q (reporting date: 2020-02-27), 10-Q (reporting date: 2019-11-28).
The financial statement information reveals a volatile period for the company, characterized by significant fluctuations in cash flow from operating, investing, and financing activities. Net income exhibited substantial variability, moving from positive values in early periods to significant losses in late 2022 and early 2023, before recovering and reaching substantial gains in late 2024 and early 2025. Operating cash flow generally tracked net income, though with less dramatic swings, consistently remaining positive for most of the observed period.
- Operating Activities
- Net cash provided by operating activities demonstrated an overall upward trend from 2019 to 2021, peaking at US$3,884 million in September 2021. A subsequent decline was observed, with a low point in March 2023, before a strong recovery in the latter half of 2024 and into 2025, reaching US$11,903 million in November 2025. Adjustments to reconcile net income to net cash provided by operating activities were consistently positive and substantial, indicating significant non-cash items impacting the company’s cash flow. Depreciation and amortization, along with stock-based compensation, consistently contributed to these adjustments.
- Investing Activities
- Net cash used for investing activities was consistently negative throughout the period, reflecting ongoing expenditures for property, plant, and equipment, and purchases of available-for-sale securities. These outflows were partially offset by proceeds from maturities and sales of available-for-sale securities, and, notably, a large inflow from the sale of the Lehi, Utah fab in September 2021. The magnitude of cash used in investing activities increased significantly in 2022 and 2023, before moderating somewhat in 2024 and 2025. Significant fluctuations were observed in receivables and inventories, impacting the change in operating assets and liabilities.
- Financing Activities
- Net cash provided by (used for) financing activities exhibited considerable volatility. Large repayments of debt and repurchases of common stock were common outflows. These were often offset by proceeds from the issuance of debt, particularly in 2019, 2022, and 2024. A substantial inflow was observed in 2022 and 2023, driven by debt issuance. Dividend payments also represented a consistent, though relatively smaller, outflow. The acquisition of a noncontrolling interest in IMFT in 2019 resulted in a significant cash outflow.
- Key Trends & Observations
- The period from late 2022 to early 2023 was marked by significant challenges, as evidenced by substantial net losses, negative operating cash flow, and increased cash usage in investing activities. However, a strong recovery began in mid-2023 and continued through 2025, with net income and operating cash flow reaching record highs. The company consistently invested in its property, plant, and equipment, and actively managed its debt and equity positions. Fluctuations in receivables and inventories suggest potential challenges in managing working capital. The impact of currency exchange rates on cash was relatively minor, though present throughout the period.
Overall, the company demonstrated resilience in navigating a dynamic economic environment. The substantial improvements in financial performance in the latter part of the observed period suggest a successful turnaround strategy, though continued monitoring of working capital management and investment decisions is warranted.