Goodwill and Intangible Asset Disclosure
Adjustments to Financial Statements: Removal of Goodwill
Adjusted Financial Ratios: Removal of Goodwill (Summary)
Adjusted Net Profit Margin
Adjusted Total Asset Turnover
Adjusted Financial Leverage
Adjusted Return on Equity (ROE)
Adjusted Return on Assets (ROA)

Micron Technology Inc., balance sheet: goodwill and intangible assets

US$ in millions

	Aug 29, 2024	Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020	Aug 29, 2019
Product and process technology	683)	613)	742)	633)	616)	583)
Other	11)	—)	—)	—)	—)	—)
Intangible assets, gross amount	694)	613)	742)	633)	616)	583)
Accumulated amortization	(278)	(209)	(321)	(284)	(282)	(243)
Intangible assets	416)	404)	421)	349)	334)	340)
Goodwill	1,150)	1,150)	1,228)	1,228)	1,228)	1,228)
Intangible assets and goodwill	1,566)	1,554)	1,649)	1,577)	1,562)	1,568)

Based on: 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), 10-K (reporting date: 2019-08-29).

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Item	Description	The company
Intangible assets	Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.	Micron Technology Inc. intangible assets decreased from 2022 to 2023 but then increased from 2023 to 2024 not reaching 2022 level.
Goodwill	Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.
Intangible assets and goodwill	Sum of the carrying amounts of all intangible assets, including goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.	Micron Technology Inc. intangible assets and goodwill decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.

Micron Technology Inc., adjustments to financial statements

US$ in millions

	Aug 29, 2024	Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020	Aug 29, 2019
Adjustment to Total Assets
Total assets (as reported)	69,416)	64,254)	66,283)	58,849)	53,678)	48,887)
Less: Goodwill	1,150)	1,150)	1,228)	1,228)	1,228)	1,228)
Total assets (adjusted)	68,266)	63,104)	65,055)	57,621)	52,450)	47,659)
Adjustment to Total Micron Shareholders’ Equity
Total Micron shareholders’ equity (as reported)	45,131)	44,120)	49,907)	43,933)	38,996)	35,881)
Less: Goodwill	1,150)	1,150)	1,228)	1,228)	1,228)	1,228)
Total Micron shareholders’ equity (adjusted)	43,981)	42,970)	48,679)	42,705)	37,768)	34,653)
Adjustment to Net Income (loss) Attributable To Micron
Net income (loss) attributable to Micron (as reported)	778)	(5,833)	8,687)	5,861)	2,687)	6,313)
Add: Goodwill impairment	—)	101)	—)	—)	—)	—)
Net income (loss) attributable to Micron (adjusted)	778)	(5,732)	8,687)	5,861)	2,687)	6,313)

Based on: 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), 10-K (reporting date: 2019-08-29).

Micron Technology Inc., Financial Data: Reported vs. Adjusted

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Micron Technology Inc., adjusted financial ratios

	Aug 29, 2024	Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020	Aug 29, 2019
Net Profit Margin
Reported net profit margin	3.10%	-37.54%	28.24%	21.16%	12.54%	26.97%
Adjusted net profit margin	3.10%	-36.89%	28.24%	21.16%	12.54%	26.97%
Total Asset Turnover
Reported total asset turnover	0.36	0.24	0.46	0.47	0.40	0.48
Adjusted total asset turnover	0.37	0.25	0.47	0.48	0.41	0.49
Financial Leverage
Reported financial leverage	1.54	1.46	1.33	1.34	1.38	1.36
Adjusted financial leverage	1.55	1.47	1.34	1.35	1.39	1.38
Return on Equity (ROE)
Reported ROE	1.72%	-13.22%	17.41%	13.34%	6.89%	17.59%
Adjusted ROE	1.77%	-13.34%	17.85%	13.72%	7.11%	18.22%
Return on Assets (ROA)
Reported ROA	1.12%	-9.08%	13.11%	9.96%	5.01%	12.91%
Adjusted ROA	1.14%	-9.08%	13.35%	10.17%	5.12%	13.25%

Based on: 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), 10-K (reporting date: 2019-08-29).

Financial ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	Micron Technology Inc. adjusted net profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Micron Technology Inc. adjusted total asset turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Micron Technology Inc. adjusted financial leverage ratio increased from 2022 to 2023 and from 2023 to 2024.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity.	Micron Technology Inc. adjusted ROE deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Micron Technology Inc. adjusted ROA deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

Micron Technology Inc., Financial Ratios: Reported vs. Adjusted

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	Aug 29, 2024	Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020	Aug 29, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Micron	778)	(5,833)	8,687)	5,861)	2,687)	6,313)
Revenue	25,111)	15,540)	30,758)	27,705)	21,435)	23,406)
Profitability Ratio
Net profit margin¹	3.10%	-37.54%	28.24%	21.16%	12.54%	26.97%
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Adjusted net income (loss) attributable to Micron	778)	(5,732)	8,687)	5,861)	2,687)	6,313)
Revenue	25,111)	15,540)	30,758)	27,705)	21,435)	23,406)
Profitability Ratio
Adjusted net profit margin²	3.10%	-36.89%	28.24%	21.16%	12.54%	26.97%

Based on: 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), 10-K (reporting date: 2019-08-29).

2024 Calculations

¹ Net profit margin = 100 × Net income (loss) attributable to Micron ÷ Revenue
= 100 × 778 ÷ 25,111 = 3.10%

² Adjusted net profit margin = 100 × Adjusted net income (loss) attributable to Micron ÷ Revenue
= 100 × 778 ÷ 25,111 = 3.10%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	Micron Technology Inc. adjusted net profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.

	Aug 29, 2024	Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020	Aug 29, 2019
As Reported
Selected Financial Data (US$ in millions)
Revenue	25,111)	15,540)	30,758)	27,705)	21,435)	23,406)
Total assets	69,416)	64,254)	66,283)	58,849)	53,678)	48,887)
Activity Ratio
Total asset turnover¹	0.36	0.24	0.46	0.47	0.40	0.48
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Revenue	25,111)	15,540)	30,758)	27,705)	21,435)	23,406)
Adjusted total assets	68,266)	63,104)	65,055)	57,621)	52,450)	47,659)
Activity Ratio
Adjusted total asset turnover²	0.37	0.25	0.47	0.48	0.41	0.49

Based on: 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), 10-K (reporting date: 2019-08-29).

2024 Calculations

¹ Total asset turnover = Revenue ÷ Total assets
= 25,111 ÷ 69,416 = 0.36

² Adjusted total asset turnover = Revenue ÷ Adjusted total assets
= 25,111 ÷ 68,266 = 0.37

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Activity ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Micron Technology Inc. adjusted total asset turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level.

	Aug 29, 2024	Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020	Aug 29, 2019
As Reported
Selected Financial Data (US$ in millions)
Total assets	69,416)	64,254)	66,283)	58,849)	53,678)	48,887)
Total Micron shareholders’ equity	45,131)	44,120)	49,907)	43,933)	38,996)	35,881)
Solvency Ratio
Financial leverage¹	1.54	1.46	1.33	1.34	1.38	1.36
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Adjusted total assets	68,266)	63,104)	65,055)	57,621)	52,450)	47,659)
Adjusted total Micron shareholders’ equity	43,981)	42,970)	48,679)	42,705)	37,768)	34,653)
Solvency Ratio
Adjusted financial leverage²	1.55	1.47	1.34	1.35	1.39	1.38

Based on: 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), 10-K (reporting date: 2019-08-29).

2024 Calculations

¹ Financial leverage = Total assets ÷ Total Micron shareholders’ equity
= 69,416 ÷ 45,131 = 1.54

² Adjusted financial leverage = Adjusted total assets ÷ Adjusted total Micron shareholders’ equity
= 68,266 ÷ 43,981 = 1.55

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Solvency ratio	Description	The company
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Micron Technology Inc. adjusted financial leverage ratio increased from 2022 to 2023 and from 2023 to 2024.

	Aug 29, 2024	Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020	Aug 29, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Micron	778)	(5,833)	8,687)	5,861)	2,687)	6,313)
Total Micron shareholders’ equity	45,131)	44,120)	49,907)	43,933)	38,996)	35,881)
Profitability Ratio
ROE¹	1.72%	-13.22%	17.41%	13.34%	6.89%	17.59%
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Adjusted net income (loss) attributable to Micron	778)	(5,732)	8,687)	5,861)	2,687)	6,313)
Adjusted total Micron shareholders’ equity	43,981)	42,970)	48,679)	42,705)	37,768)	34,653)
Profitability Ratio
Adjusted ROE²	1.77%	-13.34%	17.85%	13.72%	7.11%	18.22%

Based on: 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), 10-K (reporting date: 2019-08-29).

2024 Calculations

¹ ROE = 100 × Net income (loss) attributable to Micron ÷ Total Micron shareholders’ equity
= 100 × 778 ÷ 45,131 = 1.72%

² Adjusted ROE = 100 × Adjusted net income (loss) attributable to Micron ÷ Adjusted total Micron shareholders’ equity
= 100 × 778 ÷ 43,981 = 1.77%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity.	Micron Technology Inc. adjusted ROE deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

	Aug 29, 2024	Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020	Aug 29, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Micron	778)	(5,833)	8,687)	5,861)	2,687)	6,313)
Total assets	69,416)	64,254)	66,283)	58,849)	53,678)	48,887)
Profitability Ratio
ROA¹	1.12%	-9.08%	13.11%	9.96%	5.01%	12.91%
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Adjusted net income (loss) attributable to Micron	778)	(5,732)	8,687)	5,861)	2,687)	6,313)
Adjusted total assets	68,266)	63,104)	65,055)	57,621)	52,450)	47,659)
Profitability Ratio
Adjusted ROA²	1.14%	-9.08%	13.35%	10.17%	5.12%	13.25%

Based on: 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), 10-K (reporting date: 2019-08-29).

2024 Calculations

¹ ROA = 100 × Net income (loss) attributable to Micron ÷ Total assets
= 100 × 778 ÷ 69,416 = 1.12%

² Adjusted ROA = 100 × Adjusted net income (loss) attributable to Micron ÷ Adjusted total assets
= 100 × 778 ÷ 68,266 = 1.14%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Micron Technology Inc. adjusted ROA deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

Micron Technology Inc. (NASDAQ:MU)

Analysis of Goodwill and Intangible Assets

Goodwill and Intangible Asset Disclosure

Adjustments to Financial Statements: Removal of Goodwill

Micron Technology Inc., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios: Removal of Goodwill (Summary)

Micron Technology Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Net Profit Margin

Adjusted Total Asset Turnover

Adjusted Financial Leverage

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)