Micron Technology, Inc., Reports Results for the Fourth Quarter and Full Year of Fiscal 2018


 
MICRON TECHNOLOGY, INC.
NON-GAAP ADJUSTMENTS
(in millions)
        
  4th Qtr.  3rd Qtr.  4th Qtr.  Year Ended
  August 30, 2018  May 31, 2018  August 31, 2017  August 30, 2018  August 31, 2017
Non-GAAP adjustments         
Cost of goods sold         
Stock-based compensation$21  $20  $22  $83  $88 
Flow-through of Inotera inventory step up    11    107 
Other7  7  2  20  8 
 28  27  35  103  203 
          
Selling, general, and administrative         
Stock-based compensation13  14  22  61  75 
Inotera acquisition costs        13 
 13  14  22  61  88 
          
Research and development         
Stock-based compensation13  14  13  54  52 
Other1  1  1  3  3 
  14     15     14     57     55  
                   
Other operating (income) expense, net                  
Restructure and asset impairments 7     8     (27 )   28     18  
                   
Interest income (expense), net                  
Amortization of debt discount and other costs 23     23     32     101     125  
                   
Other non-operating income (expense)                  
(Gain) loss on debt repurchases and conversions (1 )   168     37     385     100  
(Gain) loss from changes in currency exchange rates 15     24     12     75     74  
(Gain) loss from business acquisition activities                 (71 )
Other     2         5     9  
  14     194     49     465     112  
                   
Income taxes                  
Impact of U.S. income tax reform (83 )   (222 )       (174 )    
Estimated tax effects of above, including tax benefits from stock-based compensation, and non-cash changes in net deferred income taxes (28 )   16     (107 )   (76 )   (59 )
  (111 )   (206 )   (107 )   (250 )   (59 )
                   
Equity in net income (loss) of equity method investments                  
Impairment of equity method investments                 16  
Other                 1  
                  17  
  $ (12 )   $ 75     $ 18     $ 565     $ 559  
                                       

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