Micron Technology Inc., adjustment to net income (loss) attributable to Micron

US$ in millions

12 months ended:	Aug 29, 2024	Aug 31, 2023	Sep 1, 2022	Sep 2, 2021	Sep 3, 2020	Aug 29, 2019
Net income (loss) attributable to Micron (as reported)	778)	(5,833)	8,687)	5,861)	2,687)	6,313)
Add: Unrealized gains (losses) on investments	33)	6)	(48)	(7)	1)	9)
Net income (loss) attributable to Micron (adjusted)	811)	(5,827)	8,639)	5,854)	2,688)	6,322)

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Micron Technology Inc., adjusted profitability 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	3.23%	-37.50%	28.09%	21.13%	12.54%	27.01%
Return on Equity (ROE)
Reported ROE	1.72%	-13.22%	17.41%	13.34%	6.89%	17.59%
Adjusted ROE	1.80%	-13.21%	17.31%	13.32%	6.89%	17.62%
Return on Assets (ROA)
Reported ROA	1.12%	-9.08%	13.11%	9.96%	5.01%	12.91%
Adjusted ROA	1.17%	-9.07%	13.03%	9.95%	5.01%	12.93%

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

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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: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income (loss) attributable to Micron	811)	(5,827)	8,639)	5,854)	2,688)	6,322)
Revenue	25,111)	15,540)	30,758)	27,705)	21,435)	23,406)
Profitability Ratio
Adjusted net profit margin²	3.23%	-37.50%	28.09%	21.13%	12.54%	27.01%

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 × 811 ÷ 25,111 = 3.23%

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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)
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: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income (loss) attributable to Micron	811)	(5,827)	8,639)	5,854)	2,688)	6,322)
Total Micron shareholders’ equity	45,131)	44,120)	49,907)	43,933)	38,996)	35,881)
Profitability Ratio
Adjusted ROE²	1.80%	-13.21%	17.31%	13.32%	6.89%	17.62%

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 ÷ Total Micron shareholders’ equity
= 100 × 811 ÷ 45,131 = 1.80%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by 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: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net income (loss) attributable to Micron	811)	(5,827)	8,639)	5,854)	2,688)	6,322)
Total assets	69,416)	64,254)	66,283)	58,849)	53,678)	48,887)
Profitability Ratio
Adjusted ROA²	1.17%	-9.07%	13.03%	9.95%	5.01%	12.93%

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 ÷ Total assets
= 100 × 811 ÷ 69,416 = 1.17%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by 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)

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