0000723125-24-000019 | 10-Q | XBRL Viewer

Property, plant, and equipment, net

$ 92,541

$ 87,585

Accumulated depreciation

(54,615)

(49,657)

37,926

37,928

Land

Property, Plant, and Equipment including Finance Lease Right-of-Use Asset

Property, Plant, and Equipment including Finance Lease Right-of-Use Asset

284

283

Buildings

Property, Plant, and Equipment including Finance Lease Right-of-Use Asset

19,134

17,967

Equipment

Equipment not placed into service

^[1]

68,426

65,555

Property, Plant, and Equipment including Finance Lease Right-of-Use Asset

Property, Plant, and Equipment including Finance Lease Right-of-Use Asset

1,770

2,910

Construction in progress

Property, Plant, and Equipment including Finance Lease Right-of-Use Asset

^[2]

3,351

2,464

Software

Estimated Fair Value and Carrying Value of Debt Instruments

$ 1,346

$ 1,316

[1]	Includes costs related to equipment not placed into service of $1.77 billion as of May 30, 2024 and $2.91 billion as of August 31, 2023.
[2]	Includes building-related construction, tool installation, and software costs for assets not placed into service.

Fair Value Measurements (Tables)

9 Months Ended

May 30, 2024

Fair Value Disclosures [Abstract]


	As of May 30, 2024				As of August 31, 2023
	Fair Value		Carrying Value		Fair Value		Carrying Value

Notes	$	11,037	$	11,332	$	11,549	$	12,049

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions	May 30, 2024	Aug. 31, 2023
Shareholders’ equity
Common Stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common Stock, authorized shares (in shares)	3,000	3,000
Common Stock, issued (in shares)	1,250	1,239
Common Stock, outstanding (in shares)	1,109	1,098
Treasury Stock, held (in shares)	141	141

Income Taxes

9 Months Ended

May 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

Our income tax (provision) benefit consisted of the following:


	Quarter ended						Nine months ended
	May 30, 2024			June 1, 2023			May 30, 2024			June 1, 2023

Income (loss) before taxes	$	715		$	(1,753)		$	(270)		$	(4,200)
Income tax (provision) benefit	(377)			(139)			172			(201)
Effective tax rate	52.7		%	(7.9)		%	63.7		%	(4.8)		%

In the first quarter of 2024, our tax expense was based on actual results for jurisdictions where small changes in our projected pre-tax income would have caused significant changes in the estimated annual effective tax rate. With our improved fiscal 2024 outlook, we were able to estimate a more reliable annual effective tax rate and have reverted to a global annual effective tax rate method for all jurisdictions beginning in the second quarter of 2024.

The changes in our effective tax rate for the third quarter and first nine months of 2024 as compared to the third quarter and first nine months of 2023 were primarily due to changes in profitability and discrete items primarily related to tax return filings.

We operate in a number of jurisdictions outside the United States, including Singapore, where we have tax incentive arrangements. These incentives expire, in whole or in part, at various dates through 2034 and are conditional, in part, upon meeting certain business operations and employment thresholds. As a result of the low level of profitability and the geographic mix of income, the benefit from tax incentive arrangements was not material for the periods presented.

As of May 30, 2024, other current assets included $539 million related to income taxes.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

Restructuring and Related Activities [Abstract]

Restructure and Asset Impairments

9 Months Ended

May 30, 2024

Restructure and Asset Impairments


	Quarter ended				Nine months ended
	May 30, 2024		June 1, 2023		May 30, 2024		June 1, 2023

Employee severance	$	—	$	70	$	—	$	163
Asset impairments and other asset-related costs	—		1		—		9
Other	—		(3)		—		(5)
	$	—	$	68	$	—	$	167

In 2023, we initiated a restructure plan in response to challenging industry conditions (the “2023 Restructure Plan”). Under the 2023 Restructure Plan, we reduced our headcount by approximately 15% by the end of calendar 2023, through a combination of voluntary attrition and personnel reductions. The plan was substantially completed in 2023.

Debt - Maturities of Notes Payable (Details) $ in Millions	May 30, 2024 USD ($)
Maturities of Notes Payable
Remainder of 2024	$ 27
2025	107
2026	607
2027	1,780
2028	1,493
2029 and thereafter	7,450
Unamortized issuance costs, discounts, and premium, net	(34)
Hedge accounting fair value adjustment	(98)
Total Long-term Debt	$ 11,332

Inventories (Details) - USD ($) $ in Millions	May 30, 2024	Aug. 31, 2023
Inventory, Net, Items Net of Reserve Alternative [Abstract]
Finished goods	$ 1,280	$ 1,616
Work in process	6,542	6,111
Raw materials and supplies	690	660
Inventories	$ 8,512	$ 8,387

Leases - Not Yet Commenced (Details) $ in Millions	May 30, 2024 USD ($)
Finance Lease Not yet Commenced
Payment obligations	$ 704
Weighted Average
Finance Lease Not yet Commenced
Lease term	14 years

Other Operating (Income) Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 30, 2024	Jun. 01, 2023	May 30, 2024	Jun. 01, 2023
Other Income and Expenses [Abstract]
(Gain) loss on disposition of property, plant, and equipment	$ (38)	$ (24)	$ (63)	$ (46)
Patent cross-license agreement gain	0	0	(200)	0
Litigation settlement	0	68	0	68
Other	10	4	(4)	7
Other operating (income) expense, net	$ (28)	$ 48	$ (267)	$ 29

Intangible Assets (Details) - USD ($) $ in Millions	9 Months Ended
Intangible Assets (Details) - USD ($) $ in Millions	May 30, 2024	Jun. 01, 2023	Aug. 31, 2023
Finite-Lived Intangible Assets, Net [Abstract]
Gross Amount	$ 673		$ 613
Accumulated Amortization	(260)		(209)
Net Carrying Amount	413		404
Amortization [Abstract]
Amortization of Intangible Assets	61	$ 66
Annual amortization expense for intangible assets [Abstract]
Remainder of 2024	21
2025	63
2026	53
2027	49
2028	47
Product and process technology
Finite-Lived Intangible Assets, Net [Abstract]
Gross Amount	662		613
Accumulated Amortization	(260)		(209)
Net Carrying Amount	402		404
Increase in product and process technology	$ 60	$ 72
Product and process technology \| Weighted Average
Finite-Lived Intangible Assets, Net [Abstract]
Useful lives of assets placed into service	10 years	9 years
Other
Finite-Lived Intangible Assets, Net [Abstract]
Gross Amount	$ 11		0
Accumulated Amortization	0		0
Net Carrying Amount	$ 11		$ 0

Segment and Other Information

9 Months Ended

May 30, 2024

Segment Reporting [Abstract]

Segment and Other Information

Segment information reported herein is consistent with how it is reviewed and evaluated by our chief operating decision maker. We have the following four business units, which are our reportable segments:

Compute and Networking Business Unit (“CNBU”): Includes memory products and solutions sold into the client, cloud server, enterprise, graphics, and networking markets.

Mobile Business Unit (“MBU”): Includes memory and storage products sold into the smartphone and other mobile-device markets.

Embedded Business Unit (“EBU”): Includes memory and storage products and solutions sold into the automotive, industrial, and consumer markets.

Storage Business Unit (“SBU”): Includes SSDs and component-level solutions sold into the enterprise and cloud, client, and consumer storage markets.

Certain operating expenses directly associated with the activities of a specific segment are charged to that segment. Other indirect operating income and expenses are generally allocated to segments based on their respective percentage of cost of goods sold or forecasted wafer production. We do not identify or report internally our assets (other than goodwill) or capital expenditures by segment, nor do we allocate gains and losses from equity method investments, interest, other non-operating income or expense items, or taxes to segments.


	Quarter ended				Nine months ended
	May 30, 2024		June 1, 2023		May 30, 2024		June 1, 2023

Revenue
CNBU	$	2,573	$	1,389	$	6,495	$	4,510
MBU	1,588		819		4,479		2,419
EBU	1,294		912		3,442		2,777
SBU	1,353		627		2,911		1,814
All Other	3		5		34		10
	$	6,811	$	3,752	$	17,361	$	11,530

Operating income (loss)
CNBU	$	442	$	(337)	$	73	$	(182)
MBU	301		(478)		(395)		(1,017)
EBU	124		65		133		347
SBU	76		(601)		(631)		(1,215)
All Other	(2)		2		23		6
	941		(1,349)		(797)		(2,061)

Unallocated
Stock-based compensation	(217)		(151)		(608)		(413)
Restructure and asset impairments	—		(68)		—		(167)
Provision to write-down inventories to net realizable value	—		(401)		—		(1,831)
Lower costs from sale of inventory written down in prior periods	—		281		987		281
Patent cross-license agreement gain	—		—		200		—
Litigation settlement	—		(68)		—		(68)
Other	(5)		(5)		—		(14)
	(222)		(412)		579		(2,212)

Operating income (loss)	$	719	$	(1,761)	$	(218)	$	(4,273)

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets (Tables)

9 Months Ended

May 30, 2024

Schedule of Finite-Lived Intangible Assets


	As of May 30, 2024						As of August 31, 2023
	Gross Amount		Accumulated Amortization		Net Carrying Amount		Gross Amount		Accumulated Amortization		Net Carrying Amount

Product and process technology	$	662	$	(260)	$	402	$	613	$	(209)	$	404
Other	11		—		11		—		—		—
	$	673	$	(260)	$	413	$	613	$	(209)	$	404

Leases (Tables)

9 Months Ended

May 30, 2024

Leases [Abstract]

Schedule of Components of Lease Expense


	Quarter ended				Nine months ended
	May 30, 2024		June 1, 2023		May 30, 2024		June 1, 2023

Finance lease cost
Amortization of right-of-use asset	$	52	$	28	$	121	$	77
Interest on lease liability	18		6		48		18
Operating lease cost(1)	35		34		103		101
	$	105	$	68	$	272	$	196

Schedule of Other Lease Information

Supplemental cash flow information related to leases was as follows:


Nine months ended	May 30, 2024		June 1, 2023

Cash flows used for operating activities
Finance leases	$	41	$	17
Operating leases	98		91
Cash flows used for financing activities – Finance leases	99		79
Noncash acquisitions of right-of-use assets
Finance leases	758		354
Operating leases	48		35

Supplemental balance sheet information related to leases was as follows:


As of	May 30, 2024			August 31, 2023

Finance lease right-of-use assets (included in property, plant, and equipment)	$	1,944		$	1,311
Current operating lease liabilities (included in accounts payable and accrued expenses)	68			66

Weighted-average remaining lease term (in years)
Finance leases	8			9
Operating leases	10			11
Weighted-average discount rate
Finance leases	4.78		%	3.86		%
Operating leases	3.37		%	3.21		%

Schedule of Finance Lease Maturities


For the year ending	Finance Leases		Operating Leases

Remainder of 2024	$	95	$	9
2025	368		86
2026	351		88
2027	341		86
2028	328		80
2029 and thereafter	778		468
Less imputed interest	(335)		(140)
	$	1,926	$	677

Schedule of Operating Lease Maturities


For the year ending	Finance Leases		Operating Leases

Remainder of 2024	$	95	$	9
2025	368		86
2026	351		88
2027	341		86
2028	328		80
2029 and thereafter	778		468
Less imputed interest	(335)		(140)
	$	1,926	$	677

Revenue and Customer Contract Liabilities (Tables)

9 Months Ended

May 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Revenue by Technology


	Quarter ended				Nine months ended
	May 30, 2024		June 1, 2023		May 30, 2024		June 1, 2023

DRAM	$	4,692	$	2,672	$	12,277	$	8,223
NAND	2,065		1,013		4,862		3,001
Other (primarily NOR)	54		67		222		306
	$	6,811	$	3,752	$	17,361	$	11,530

Leases - Cost and Cash Flows (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

May 30, 2024

Jun. 01, 2023

May 30, 2024

Jun. 01, 2023

Aug. 31, 2023

Components of Lease Expense

Amortization of right-of-use asset

$ 52

$ 28

$ 121

$ 77

Interest on lease liability

Operating lease cost(1)

^[1]

103

101

Total lease cost

$ 105

$ 68

272

196

Cash flows used for operating activities

Finance leases

Operating leases

Cash flows used for financing activities

Cash flows used for financing activities – Finance leases

Finance leases, noncash acquisitions of right-of-use assets

758

354

Operating leases, noncash acquisitions of right-of-use assets

$ 48

$ 35

Lessee, Finance Lease Description

Finance Lease Right-of-Use Asset, Balance Sheet Location

Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization

Finance lease right-of-use assets (included in property, plant, and equipment)

$ 1,944

$ 1,311

Finance leases, Weighted-average remaining lease term (in years)

8 years

9 years

Finance leases, Weighted-average discount rate

4.78%

3.86%

Lessee, Operating Lease Description

Operating Lease Liability, Balance Sheet Location

Accounts payable and accrued expenses

Current operating lease liabilities (included in accounts payable and accrued expenses)

$ 68

$ 66

Operating leases, Weighted-average remaining lease term (in years)

10 years

11 years

Operating leases, Weighted-average discount rate

3.37%

3.21%

[1]	Operating lease cost includes short-term and variable lease expenses, which were not material for the periods presented.

Leases

9 Months Ended

May 30, 2024

Leases [Abstract]

[Finance] Leases

Leases

The components of lease cost are presented below:


	Quarter ended				Nine months ended
	May 30, 2024		June 1, 2023		May 30, 2024		June 1, 2023

Finance lease cost
Amortization of right-of-use asset	$	52	$	28	$	121	$	77
Interest on lease liability	18		6		48		18
Operating lease cost(1)	35		34		103		101
	$	105	$	68	$	272	$	196

(1)Operating lease cost includes short-term and variable lease expenses, which were not material for the periods presented.

Supplemental cash flow information related to leases was as follows:


Nine months ended	May 30, 2024		June 1, 2023

Cash flows used for operating activities
Finance leases	$	41	$	17
Operating leases	98		91
Cash flows used for financing activities – Finance leases	99		79
Noncash acquisitions of right-of-use assets
Finance leases	758		354
Operating leases	48		35

Supplemental balance sheet information related to leases was as follows:


As of	May 30, 2024			August 31, 2023

Finance lease right-of-use assets (included in property, plant, and equipment)	$	1,944		$	1,311
Current operating lease liabilities (included in accounts payable and accrued expenses)	68			66

Weighted-average remaining lease term (in years)
Finance leases	8			9
Operating leases	10			11
Weighted-average discount rate
Finance leases	4.78		%	3.86		%
Operating leases	3.37		%	3.21		%

As of May 30, 2024, maturities of lease liabilities by fiscal year were as follows:


For the year ending	Finance Leases		Operating Leases

Remainder of 2024	$	95	$	9
2025	368		86
2026	351		88
2027	341		86
2028	328		80
2029 and thereafter	778		468
Less imputed interest	(335)		(140)
	$	1,926	$	677

The table above excludes obligations for leases that have been executed but have not yet commenced. As of May 30, 2024, excluded obligations consisted of $704 million of finance lease obligations over a weighted-average period of 14 years for gas supply arrangements deemed to contain embedded leases and equipment leases. We will recognize right-of-use assets and associated lease liabilities at the time such assets become available for our use.

[Operating] Leases

Leases

The components of lease cost are presented below:


	Quarter ended				Nine months ended
	May 30, 2024		June 1, 2023		May 30, 2024		June 1, 2023

Finance lease cost
Amortization of right-of-use asset	$	52	$	28	$	121	$	77
Interest on lease liability	18		6		48		18
Operating lease cost(1)	35		34		103		101
	$	105	$	68	$	272	$	196

(1)Operating lease cost includes short-term and variable lease expenses, which were not material for the periods presented.

Supplemental cash flow information related to leases was as follows:


Nine months ended	May 30, 2024		June 1, 2023

Cash flows used for operating activities
Finance leases	$	41	$	17
Operating leases	98		91
Cash flows used for financing activities – Finance leases	99		79
Noncash acquisitions of right-of-use assets
Finance leases	758		354
Operating leases	48		35

Supplemental balance sheet information related to leases was as follows:


As of	May 30, 2024			August 31, 2023

Finance lease right-of-use assets (included in property, plant, and equipment)	$	1,944		$	1,311
Current operating lease liabilities (included in accounts payable and accrued expenses)	68			66

Weighted-average remaining lease term (in years)
Finance leases	8			9
Operating leases	10			11
Weighted-average discount rate
Finance leases	4.78		%	3.86		%
Operating leases	3.37		%	3.21		%

As of May 30, 2024, maturities of lease liabilities by fiscal year were as follows:


For the year ending	Finance Leases		Operating Leases

Remainder of 2024	$	95	$	9
2025	368		86
2026	351		88
2027	341		86
2028	328		80
2029 and thereafter	778		468
Less imputed interest	(335)		(140)
	$	1,926	$	677

Certain Concentrations (Tables)

9 Months Ended

May 30, 2024

Risks and Uncertainties [Abstract]

Schedule of Market Concentration Risk


Nine months ended	May 30, 2024		June 1, 2023

Mobile	25	%	20	%
Automotive, industrial, and consumer	20	%	25	%
Enterprise and cloud server	20	%	20	%
Client and graphics	15	%	20	%
SSDs and other storage	15	%	15	%

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	May 30, 2024	Jun. 01, 2023
Cash flows from operating activities
Net income (loss)	$ (109)	$ (4,403)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation expense and amortization of intangible assets	5,794	5,819
Stock-based compensation	620	448
Provision to write-down inventories to net realizable value	0	1,831
Change in operating assets and liabilities:
Receivables	(2,562)	2,728
Inventories	(125)	(3,406)
Other current assets	(435)	(35)
Accounts payable and accrued expenses	846	(1,113)
Other current liabilities	769	(677)
Other	304	118
Net cash provided by operating activities	5,102	1,310
Cash flows from investing activities
Expenditures for property, plant, and equipment	(5,266)	(6,215)
Purchases of available-for-sale securities	(1,110)	(496)
Proceeds from maturities and sales of available-for-sale securities	1,433	1,192
Proceeds from government incentives	267	248
Other	(35)	(90)
Net cash provided by (used for) investing activities	(4,711)	(5,361)
Cash flows from financing activities
Repayments of debt	(1,816)	(706)
Payments of dividends to shareholders	(384)	(378)
Payments on equipment purchase contracts	(127)	(112)
Repurchases of common stock - repurchase program	0	(425)
Proceeds from issuance of debt	999	6,716
Other	(40)	0
Net cash provided by (used for) financing activities	(1,368)	5,095
Effect of changes in currency exchange rates on cash, cash equivalents, and restricted cash	(15)	(13)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(992)	1,031
Cash, cash equivalents, and restricted cash at beginning of period	8,656	8,339
Cash, cash equivalents, and restricted cash at end of period	$ 7,664	$ 9,370

Income Taxes (Tables)

9 Months Ended

May 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Income Tax (Provision) Benefit

Our income tax (provision) benefit consisted of the following:


	Quarter ended						Nine months ended
	May 30, 2024			June 1, 2023			May 30, 2024			June 1, 2023

Income (loss) before taxes	$	715		$	(1,753)		$	(270)		$	(4,200)
Income tax (provision) benefit	(377)			(139)			172			(201)
Effective tax rate	52.7		%	(7.9)		%	63.7		%	(4.8)		%

Derivative Instruments - Notional Amounts and Fair Values (Details) - USD ($)
$ in Millions

9 Months Ended

May 30, 2024

Aug. 31, 2023

Fair Value of Derivative Assets and Liabilities

^[1]

$ 31

$ 63

Designated hedging instruments | Cash flow hedges

^[2]

$ (348)

(297)

Fair Value of Derivative Assets and Liabilities

General maturity of cash flow hedges (in years)

2 years

Designated hedging instruments | Cash flow hedges | Currency hedges

Fair Value of Derivative Assets and Liabilities

$ 4,177

3,873

^[1]

Designated hedging instruments | Cash flow hedges | Commodity hedges

^[2]

(234)

(180)

Fair Value of Derivative Assets and Liabilities

458

331

^[1]

Designated hedging instruments | Fair value hedges | Interest rate swap

^[2]

(4)

Fair Value of Derivative Assets and Liabilities

900

^[1]

Not designated hedging instruments | Currency hedges

^[2]

(98)

(100)

Fair Value of Derivative Assets and Liabilities

1,964

1,839

^[1]

General maturity of currency forward contracts (in months)

^[2]

$ (12)

$ (17)

3 months

[1]	Included in receivables and other noncurrent assets.
[2]	Included in accounts payable and accrued expenses and other noncurrent liabilities.

Certain Concentrations

9 Months Ended

May 30, 2024

Risks and Uncertainties [Abstract]

Certain Concentrations

Revenue by end market as an approximate percentage of total revenue is presented in the table below:


Nine months ended	May 30, 2024		June 1, 2023

Mobile	25	%	20	%
Automotive, industrial, and consumer	20	%	25	%
Enterprise and cloud server	20	%	20	%
Client and graphics	15	%	20	%
SSDs and other storage	15	%	15	%

Revenue from one customer, which is a distributor, was 11% of total revenue for the first nine months of 2024. No customer accounted for 10% or more of total revenue for the first nine months of 2023.

Restructure and Asset Impairments (Tables)

9 Months Ended

May 30, 2024

Restructuring and Related Activities [Abstract]

Restructure and Asset Impairments


	Quarter ended				Nine months ended
	May 30, 2024		June 1, 2023		May 30, 2024		June 1, 2023

Employee severance	$	—	$	70	$	—	$	163
Asset impairments and other asset-related costs	—		1		—		9
Other	—		(3)		—		(5)
	$	—	$	68	$	—	$	167

Inventories (Tables)

9 Months Ended

May 30, 2024

Inventory Disclosure [Abstract]

Schedule of Inventories


As of	May 30, 2024		August 31, 2023

Finished goods	$	1,280	$	1,616
Work in process	6,542		6,111
Raw materials and supplies	690		660
	$	8,512	$	8,387

Equity - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	May 30, 2024	Feb. 29, 2024	Nov. 30, 2023	Jun. 01, 2023	Mar. 02, 2023	Dec. 01, 2022	May 30, 2024	Jun. 01, 2023
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income (loss)			$ (312)				$ (312)
Other comprehensive income (loss) before reclassifications							(135)
Amount reclassified out of accumulated other comprehensive income (loss)							136
Tax effects							0
Other comprehensive income (loss)	$ (47)	$ (4)	52	$ 33	$ 100	$ 87	1	$ 220
Accumulated other comprehensive income (loss)	(311)						(311)
Gains (Losses) on Derivative Instruments
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income (loss)			(304)				(304)
Other comprehensive income (loss) before reclassifications							(151)
Amount reclassified out of accumulated other comprehensive income (loss)							139
Tax effects							(2)
Other comprehensive income (loss)							(14)
Accumulated other comprehensive income (loss)	(318)						(318)
Unrealized Gains (Losses) on Investments
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income (loss)			(41)				(41)
Other comprehensive income (loss) before reclassifications							16
Amount reclassified out of accumulated other comprehensive income (loss)							0
Tax effects							1
Other comprehensive income (loss)							17
Accumulated other comprehensive income (loss)	(24)						(24)
Pension Liability Adjustments
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income (loss)			36				36
Other comprehensive income (loss) before reclassifications							0
Amount reclassified out of accumulated other comprehensive income (loss)							(3)
Tax effects							1
Other comprehensive income (loss)							(2)
Accumulated other comprehensive income (loss)	34						34
Cumulative Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income (loss)			$ (3)				(3)
Other comprehensive income (loss) before reclassifications							0
Amount reclassified out of accumulated other comprehensive income (loss)							0
Tax effects							0
Other comprehensive income (loss)							0
Accumulated other comprehensive income (loss)	$ (3)						$ (3)

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	May 30, 2024	Feb. 29, 2024	Nov. 30, 2023	Jun. 01, 2023	Mar. 02, 2023	Dec. 01, 2022	May 30, 2024	Jun. 01, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 332	$ 793	$ (1,234)	$ (1,896)	$ (2,312)	$ (195)	$ (109)	$ (4,403)

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Schedule of Accumulated Other Comprehensive Income (Loss)

Equity (Tables)

9 Months Ended

May 30, 2024

Equity [Abstract]


	Gains (Losses) on Derivative Instruments		Unrealized Gains (Losses) on Investments		Pension Liability Adjustments		Cumulative Foreign Currency Translation Adjustment		Total

As of August 31, 2023	$	(304)	$	(41)	$	36	$	(3)	$	(312)
Other comprehensive income (loss) before reclassifications	(151)		16		—		—		(135)
Amount reclassified out of accumulated other comprehensive income (loss)	139		—		(3)		—		136
Tax effects	(2)		1		1		—		—
Other comprehensive income (loss)	(14)		17		(2)		—		1
As of May 30, 2024	$	(318)	$	(24)	$	34	$	(3)	$	(311)

Contingencies (Details) $ in Millions			9 Months Ended
Contingencies (Details) $ in Millions	Jun. 04, 2024 patent	Jun. 03, 2024 patent	May 30, 2024 USD ($) patent
Netlist Inc. vs Micron \| Patent Matters \| Pending Litigation
Loss Contingencies [Line Items]
Number of patents allegedly infringed			1
Netlist Inc vs Micron - Complaint 2 \| Patent Matters \| Pending Litigation
Loss Contingencies [Line Items]
Number of patents allegedly infringed			3
Netlist Inc. vs Micron - Complaint 3 \| Patent Matters \| Pending Litigation
Loss Contingencies [Line Items]
Number of patents allegedly infringed			2
Netlist Inc. vs Micron - Complaint 4 \| Patent Matters \| Pending Litigation
Loss Contingencies [Line Items]
Number of patents allegedly infringed			6
Netlist Inc. vs Micron - Complaint 5 \| Patent Matters
Loss Contingencies [Line Items]
Number of patents allegedly infringed			1
Netlist Inc. vs Micron - Complaint 5 Amendment \| Patent Matters \| Expecting Appeal
Loss Contingencies [Line Items]
Number of patents allegedly infringed			2
Number of patents found infringed (jury)			2
Netlist Inc. vs Micron - Complaint 5 Amendment \| Patent 7,619,912
Loss Contingencies [Line Items]
Number of patents found unpatentable by US Patent and Trademark Office			1
Netlist Inc. vs Micron - Complaint 5 Amendment \| Patent 7,619,912 \| Expecting Appeal
Loss Contingencies [Line Items]
Damages awarded to Netlist \| $			$ 425
Netlist Inc. vs Micron - Complaint 5 Amendment \| Patent 11,093,417 \| Expecting Appeal
Loss Contingencies [Line Items]
Damages awarded to Netlist \| $			$ 20
Sonrai Memory, Ltd. vs Micron \| Patent Matters \| Pending Litigation
Loss Contingencies [Line Items]
Number of patents allegedly infringed			2
Besang, Inc. \| Patent Matters \| Pending Litigation
Loss Contingencies [Line Items]
Number of patents allegedly infringed			1
Yangtze Memory Technologies Company, Ltd. vs Micron \| Patent Matters \| Pending Litigation
Loss Contingencies [Line Items]
Number of patents allegedly infringed			8
Yangtze Memory Technologies Company, Ltd. vs. Micron Complaint 2 \| Patent Matters \| Pending Litigation
Loss Contingencies [Line Items]
Number of patents allegedly infringed			3
MimirIP Complaint vs Micron \| Patent Matters \| Pending Litigation \| Subsequent Event
Loss Contingencies [Line Items]
Number of patents allegedly infringed		6
MimirIP vs Micron Complaint 2 \| Patent Matters \| Pending Litigation \| Subsequent Event
Loss Contingencies [Line Items]
Number of patents allegedly infringed		6
MimirIP vs Micron Complaint 3 \| Patent Matters \| Pending Litigation \| Subsequent Event
Loss Contingencies [Line Items]
Number of patents allegedly infringed	6

Fair Value Measurements

9 Months Ended

May 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

The estimated fair values and carrying values of our outstanding debt instruments were as follows:


	As of May 30, 2024				As of August 31, 2023
	Fair Value		Carrying Value		Fair Value		Carrying Value

Notes	$	11,037	$	11,332	$	11,549	$	12,049

The fair values of our debt instruments were estimated based on Level 2 inputs, including the trading price of our notes when available, discounted cash flows, and interest rates based on similar debt issued by parties with credit ratings similar to ours.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Variable Interest Entities (Details) - USD ($) $ in Millions	May 30, 2024	Aug. 31, 2023
Variable Interest Entity [Line Items]
Finance Lease Liability	$ 1,926	$ 1,281
Finance Lease Right-of-Use Assets	1,944	$ 1,311
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Finance Lease Liability	600
Finance Lease Right-of-Use Assets	$ 600

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Long-term marketable investments

Receivables (Tables)

9 Months Ended

May 30, 2024

Receivables [Abstract]

Schedule of Receivables


As of	May 30, 2024		August 31, 2023

Trade receivables	$	4,416	$	2,048
Government incentives	340		105
Income and other taxes	208		194
Other	167		96
	$	5,131	$	2,443

CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions

May 30, 2024

Aug. 31, 2023

Assets

Cash and equivalents

$ 7,594

$ 8,577

Short-term investments

785

1,017

Receivables

5,131

2,443

Inventories

8,512

8,387

Other current assets

1,297

820

Total current assets

23,319

21,244

^[1]

775

844

Property, plant, and equipment

37,926

37,928

Operating lease right-of-use assets

660

666

Intangible assets

413

404

Deferred tax assets

597

756

Goodwill

1,150

Other noncurrent assets

1,415

1,262

Total assets

66,255

64,254

Liabilities and equity

Accounts payable and accrued expenses

5,145

3,958

Current debt

398

278

Other current liabilities

1,297

529

Total current liabilities

6,840

4,765

Long-term debt

12,860

13,052

Noncurrent operating lease liabilities

609

603

Noncurrent unearned government incentives

672

727

Other noncurrent liabilities

1,049

987

Total liabilities

22,030

20,134

Commitments and contingencies

Shareholders’ equity

Common stock, $0.10 par value, 3,000 shares authorized, 1,250 shares issued and 1,109 outstanding (1,239 shares issued and 1,098 outstanding as of August 31, 2023)

125

124

Additional capital

11,794

11,036

Retained earnings

40,169

40,824

Treasury stock, 141 shares held (141 shares as of August 31, 2023)

(7,552)

Accumulated other comprehensive income (loss)

(311)

(312)

Total equity

44,225

44,120

Total liabilities and equity

$ 66,255

$ 64,254

[1]	The maturities of long-term marketable investments primarily range from one to five years, except for asset-backed securities which are not due at a single maturity date.

Equity Plans - Stock-based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 30, 2024	Jun. 01, 2023	May 30, 2024	Jun. 01, 2023	Aug. 31, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 217	$ 148	$ 608	$ 407
Equity Plans, Additional Disclosures
Total unrecognized compensation costs related to non-vested awards expected to be recognized	1,510		$ 1,510
Weighted average period that unrecognized compensation costs is expected to be recognized (in years)			1 year 3 months 18 days
Equity plans
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Expense capitalized and remained in inventory	100		$ 100		$ 88
Restricted Stock Awards
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	201	129	555	354
Employee Stock Purchase Plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	16	19	53	53
Cost of goods sold
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	80	61	227	137
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	77	57	222	169
Selling, general, and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	60	34	159	107
Restructure
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 0	$ (4)	$ 0	$ (6)

Cash and Investments

9 Months Ended

May 30, 2024

Investments and Cash [Abstract]

Cash and Investments

All of our short-term investments and long-term marketable investments were classified as available-for-sale as of the dates noted below. Cash and equivalents and the fair values of our available-for-sale investments, which approximated amortized costs, were as follows:


	As of May 30, 2024								As of August 31, 2023
	Cash and Equivalents		Short-term Investments		Long-term Marketable Investments(1)		Total Fair Value		Cash and Equivalents		Short-term Investments		Long-term Marketable Investments(1)		Total Fair Value

Cash	$	6,355	$	—	$	—	$	6,355	$	5,771	$	—	$	—	$	5,771
Level 1(2)
Money market funds	570		—		—		570		1,629		—		—		1,629
Level 2(3)
Certificates of deposit	554		6		—		560		1,172		25		—		1,197
Corporate bonds	—		454		418		872		—		737		437		1,174
Asset-backed securities	—		42		337		379		—		15		387		402
Commercial paper	56		130		—		186		—		109		—		109
Government securities	59		153		20		232		5		131		20		156
	7,594		$	785	$	775	$	9,154	8,577		$	1,017	$	844	$	10,438
Restricted cash(4)	70								79
Cash, cash equivalents, and restricted cash	$	7,664							$	8,656

(1)The maturities of long-term marketable investments primarily range from one to five years, except for asset-backed securities which are not due at a single maturity date.

(2)The fair value of Level 1 securities is measured based on quoted prices in active markets for identical assets.

(3)The fair value of Level 2 securities is measured using information obtained from pricing services, which obtain quoted market prices for similar instruments, non-binding market consensus prices that are corroborated by observable market data, or various other methodologies, to determine the appropriate value at the measurement date. We perform supplemental analysis to validate information obtained from these pricing services. No adjustments were made to the fair values indicated by such pricing information as of May 30, 2024 or August 31, 2023.

(4)Restricted cash is included in other current assets and other noncurrent assets and primarily relates to certain government incentives received prior to being earned and for which restrictions lapse upon achieving certain performance conditions or which will be returned if performance conditions are not met.

Gross realized gains and losses from sales of available-for-sale securities were not significant for any period presented.

Non-marketable Equity Investments

In addition to the amounts included in the table above, we had $192 million and $218 million of non-marketable equity investments without a readily determinable fair value that were included in other noncurrent assets as of May 30, 2024 and August 31, 2023, respectively. We recognized a net loss in other non-operating income (expense) on our non-marketable investments of $29 million for the first nine months of 2024. The amounts recognized for the other periods presented were not significant. Our non-marketable equity investments are recorded at fair value on a non-recurring basis and classified as Level 3.

Equity

9 Months Ended

May 30, 2024

Equity [Abstract]

Equity

Common Stock Repurchases

In May 2018, our Board of Directors authorized the discretionary repurchase of up to $10 billion of our outstanding common stock through open-market purchases, block trades, privately-negotiated transactions, derivative transactions, and/or pursuant to Rule 10b5-1 trading plans. The repurchase authorization has no expiration date, does not obligate us to acquire any common stock, and is subject to market conditions and our ongoing determination of the best use of available cash. No shares were repurchased under this authorization in the first nine months of 2024. Through May 30, 2024, we had repurchased an aggregate of $6.89 billion under the authorization. Amounts repurchased are included in treasury stock.

Dividends

We paid dividends of $128 million ($0.115 per share), $127 million ($0.115 per share), and $129 million ($0.115 per share) in the third, second, and first quarters of 2024, respectively. On June 26, 2024, our Board of Directors declared a quarterly dividend of $0.115 per share, payable in cash on July 23, 2024, to shareholders of record as of the close of business on July 8, 2024.

Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) by component for the nine months ended May 30, 2024 were as follows:


	Gains (Losses) on Derivative Instruments		Unrealized Gains (Losses) on Investments		Pension Liability Adjustments		Cumulative Foreign Currency Translation Adjustment		Total

As of August 31, 2023	$	(304)	$	(41)	$	36	$	(3)	$	(312)
Other comprehensive income (loss) before reclassifications	(151)		16		—		—		(135)
Amount reclassified out of accumulated other comprehensive income (loss)	139		—		(3)		—		136
Tax effects	(2)		1		1		—		—
Other comprehensive income (loss)	(14)		17		(2)		—		1
As of May 30, 2024	$	(318)	$	(24)	$	34	$	(3)	$	(311)

The entire disclosure for equity.

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Schedule of Debt Activity

Debt (Tables)

9 Months Ended

May 30, 2024

Debt Disclosure [Abstract]

Schedule of Debt


	As of May 30, 2024										As of August 31, 2023
					Net Carrying Amount						Net Carrying Amount
	Stated Rate		Effective Rate		Current		Long-Term		Total		Current		Long-Term		Total

2026 Term Loan A	6.791	%	6.93	%	$	49	$	884	$	933	$	49	$	921	$	970
2027 Term Loan A	6.916	%	7.05	%	57		1,021		1,078		57		1,063		1,120
2026 Notes	4.975	%	5.07	%	—		499		499		—		499		499
2027 Notes(1)	4.185	%	4.27	%	—		800		800		—		798		798
2028 Notes	5.375	%	5.52	%	—		597		597		—		596		596
2029 A Notes	5.327	%	5.40	%	—		698		698		—		697		697
2029 B Notes	6.750	%	6.54	%	—		1,262		1,262		—		1,263		1,263
2030 Notes	4.663	%	4.73	%	—		847		847		—		846		846
2031 Notes	5.300	%	5.41	%	—		994		994		—		—		—
2032 Green Bonds	2.703	%	2.77	%	—		995		995		—		995		995
2033 A Notes	5.875	%	5.96	%	—		745		745		—		745		745
2033 B Notes	5.875	%	6.01	%	—		891		891		—		890		890
2041 Notes	3.366	%	3.41	%	—		497		497		—		497		497
2051 Notes	3.477	%	3.52	%	—		496		496		—		496		496
2024 Term Loan A	N/A		N/A		—		—		—		—		587		587
2025 Term Loan A	N/A		N/A		—		—		—		—		1,050		1,050
Finance lease obligations	N/A		4.78	%	292		1,634		1,926		172		1,109		1,281
					$	398	$	12,860	$	13,258	$	278	$	13,052	$	13,330

(1) In 2021, we entered into fixed-to-floating interest rate swaps on the 2027 Notes with an aggregate $900 million notional amount equal to the principal amount of the 2027 Notes. The resulting variable interest paid is at a rate equal to SOFR plus approximately 3.33%. The fixed-to-floating interest rate swaps are accounted for as fair value hedges, and as a result, the carrying values of our 2027 Notes reflect adjustments in fair value.


	Transaction Date	Increase (Decrease) in Principal		Increase (Decrease) in Carrying Value		Increase (Decrease) in Cash

Issuance
2031 Notes	January 12, 2024	$	1,000	$	993	$	993
Prepayments
2024 Term Loan A	January 12, 2024	(588)		(587)		(588)
2025 Term Loan A	January 12, 2024	(402)		(401)		(402)
2025 Term Loan A	May 29, 2024	(650)		(649)		(650)
		$	(640)	$	(644)	$	(647)

Schedule of Maturities of Notes Payable

As of May 30, 2024, maturities of notes payable by fiscal year were as follows:


Remainder of 2024	$	27
2025	107
2026	607
2027	1,780
2028	1,493
2029 and thereafter	7,450
Unamortized issuance costs, discounts, and premium, net	(34)
Hedge accounting fair value adjustment	(98)
	$	11,332

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Property, Plant and Equipment [Abstract]

Property, Plant, and Equipment

9 Months Ended

May 30, 2024

Property, Plant, and Equipment


As of	May 30, 2024		August 31, 2023

Land	$	284	$	283
Buildings	19,134		17,967
Equipment(1)	68,426		65,555
Construction in progress(2)	3,351		2,464
Software	1,346		1,316
	92,541		87,585
Accumulated depreciation	(54,615)		(49,657)
	$	37,926	$	37,928

(1)Includes costs related to equipment not placed into service of $1.77 billion as of May 30, 2024 and $2.91 billion as of August 31, 2023.

(2)Includes building-related construction, tool installation, and software costs for assets not placed into service.

Fair Value Measurements (Details) - USD ($) $ in Millions	May 30, 2024	Aug. 31, 2023
Fair Value
Fair Value of Notes Payable
Notes (level 2)	$ 11,037	$ 11,549
Carrying Value
Fair Value of Notes Payable
Notes (level 2)	$ 11,332	$ 12,049

Debt - Long-term Debt (Details) - USD ($)
$ in Millions

May 30, 2024

Jan. 12, 2024

Aug. 31, 2023

Finance Lease Effective Rate (in ten thousandths)

$ 11,332

4.78%

3.86%

Current Finance Lease Obligations

$ 292

$ 172

Long-Term Finance Lease Obligations

1,634

1,109

Total Finance Lease Obligations

1,926

1,281

Long-term Debt and Lease Obligation

Current debt (including finance lease obligation)

398

278

Long-term debt (including finance lease obligation)

12,860

13,052

Total Net Carrying Amount of Debt (including finance lease obligation)

$ 13,258

$ 13,330

Current finance lease liability, statement of financial position

Current debt (including finance lease obligation)

Noncurrent finance lease liability, statement of financial position

Long-term debt (including finance lease obligation)

Interest rate swap | Fair value hedges | Designated hedging instruments

Long-term Debt and Lease Obligation

SOFR | Interest rate swap | Fair value hedges | Designated hedging instruments

$ 900

Long-term Debt and Lease Obligation

Spread on 2027 Variable Interest Rate

3.33%

Term Loan | 2026 Term Loan A

6.791%

6.93%

$ 49

884

921

Term Loan | 2027 Term Loan A

$ 933

970

6.916%

7.05%

$ 57

1,021

1,063

Term Loan | 2024 Term Loan A

1,078

1,120

587

Term Loan | 2025 Term Loan A

587

1,050

Corporate Bonds | 2026 Notes

$ 0

1,050

4.975%

5.07%

$ 0

499

Corporate Bonds | 2027 Notes(1)

$ 499

499

^[1]

4.185%

^[1]

4.27%

^[1]

$ 0

^[1]

800

798

Corporate Bonds | 2028 Notes

^[1]

$ 800

798

5.375%

5.52%

$ 0

597

596

Corporate Bonds | 2029 A Notes

$ 597

596

5.327%

5.40%

$ 0

698

697

Corporate Bonds | 2029 B Notes

$ 698

697

6.75%

6.54%

$ 0

1,262

1,263

Corporate Bonds | 2030 Notes

$ 1,262

1,263

4.663%

4.73%

$ 0

847

846

Corporate Bonds | 2031 Notes

$ 847

846

5.30%

5.41%

$ 0

994

Corporate Bonds | 2032 Green Bonds

$ 994

2.703%

2.77%

$ 0

995

Corporate Bonds | 2033 A Notes

$ 995

995

5.875%

5.96%

$ 0

745

Corporate Bonds | 2033 B Notes

$ 745

745

5.875%

6.01%

$ 0

891

890

Corporate Bonds | 2041 Notes

$ 891

890

3.366%

3.41%

$ 0

497

Corporate Bonds | 2051 Notes

$ 497

497

3.477%

3.52%

$ 0

496

$ 496

[1]

In 2021, we entered into fixed-to-floating interest rate swaps on the 2027 Notes with an aggregate $900 million notional amount equal to the principal amount of the 2027 Notes. The resulting variable interest paid is at a rate equal to SOFR plus approximately 3.33%. The fixed-to-floating interest rate swaps are accounted for as fair value hedges, and as a result, the carrying values of our 2027 Notes reflect adjustments in fair value.

Equity Plans - Restricted Stock Awards and ESPP (Details) - $ / shares shares in Millions	3 Months Ended		9 Months Ended
	Feb. 29, 2024	Mar. 02, 2023	May 30, 2024	Jun. 01, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for future awards (in shares)			72
Restricted Stock Awards
Restricted Stock and Restricted Stock Units ("Restricted Stock Awards")
Restricted stock award shares granted (in shares)			12	14
Weighted-average grant date fair value per share (in dollars per share)			$ 69.02	$ 54.13
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for future awards (in shares)			12
Employee Stock Purchase Plan ("ESPP")
ESPP Offering Period	6 months	6 months
ESPP shares purchased (in shares)	2	3
ESPP weighted average price of shares purchased	$ 60.68	$ 52.45

Segment Reporting (Policies)	9 Months Ended
Segment Reporting (Policies)	May 30, 2024
Segment Reporting [Abstract]
Segment Reporting Policy	Certain operating expenses directly associated with the activities of a specific segment are charged to that segment. Other indirect operating income and expenses are generally allocated to segments based on their respective percentage of cost of goods sold or forecasted wafer production. We do not identify or report internally our assets (other than goodwill) or capital expenditures by segment, nor do we allocate gains and losses from equity method investments, interest, other non-operating income or expense items, or taxes to segments.

Disclosure of accounting policy for segment reporting.

Equity - Common Stock Repurchases and Dividends (Details) - USD ($)		3 Months Ended						9 Months Ended		69 Months Ended
	Jun. 26, 2024	May 30, 2024	Feb. 29, 2024	Nov. 30, 2023	Jun. 01, 2023	Mar. 02, 2023	Dec. 01, 2022	May 30, 2024	Jun. 01, 2023	May 30, 2024
Common Stock Repurchases
Payments for Repurchase of Common Stock								$ 0	$ 425,000,000
Dividends
Payments of Common Stock Dividends		$ 128,000,000	$ 127,000,000	$ 129,000,000				384,000,000	$ 378,000,000
Payments of Common Stock Dividends (per share)		$ 0.115	$ 0.115	$ 0.115
Cash dividends declared (per share)		$ 0.115	$ 0.115	$ 0.115	$ 0.115	$ 0.115	$ 0.115
Subsequent Event
Dividends
Cash dividends declared (per share)	$ 0.115
Dividends Payable, Date to be Paid	Jul. 23, 2024
Dividends Payable, Date of Record	Jul. 08, 2024
Repurchases Authorized by the BOD
Common Stock Repurchases
Common Stock Repurchase, Authorized Amount		$ 10,000,000,000						$ 10,000,000,000		$ 10,000,000,000
Treasury Shares Repurchased (in shares)								0
Payments for Repurchase of Common Stock										$ 6,890,000,000

Earnings Per Share

9 Months Ended

May 30, 2024

Earnings Per Share [Abstract]

Earnings Per Share


	Quarter ended				Nine months ended
	May 30, 2024		June 1, 2023		May 30, 2024		June 1, 2023

Net income (loss) – Basic and Diluted	$	332	$	(1,896)	$	(109)	$	(4,403)

Weighted-average common shares outstanding – Basic	1,107		1,094		1,104		1,092
Dilutive effect of equity plans	16		—		—		—
Weighted-average common shares outstanding – Diluted	1,123		1,094		1,104		1,092

Earnings (loss) per share
Basic	$	0.30	$	(1.73)	$	(0.10)	$	(4.03)
Diluted	0.30		(1.73)		(0.10)		(4.03)

Antidilutive potential common shares excluded from the computation of diluted earnings per share, that could dilute basic earnings per share in the future, were 1 million and 31 million for the third quarter and first nine months of 2024, respectively, and were 31 million and 33 million for the third quarter and first nine months of 2023, respectively.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 30, 2024	Jun. 01, 2023	May 30, 2024	Jun. 01, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 332	$ (1,896)	$ (109)	$ (4,403)
Other comprehensive income (loss), net of tax
Gains (losses) on derivative instruments	(47)	22	(14)	222
Pension liability adjustments	(1)	(2)	(2)	(1)
Unrealized gains (losses) on investments	1	12	17	0
Foreign currency translation adjustments	0	1	0	(1)
Other comprehensive income (loss)	(47)	33	1	220
Total comprehensive income (loss)	$ 285	$ (1,863)	$ (108)	$ (4,183)

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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-Subparagraph (SX 210.9-04(23))
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Other Income and Expenses [Abstract]

Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Millions	May 30, 2024	Aug. 31, 2023
Accounts Payable and Accrued Liabilities, Current [Abstract]
Accounts payable	$ 1,951	$ 1,725
Property, plant, and equipment	1,663	1,419
Salaries, wages, and benefits	909	367
Income and other taxes	121	67
Other	501	380
Total accounts payable and accrued expenses	$ 5,145	$ 3,958

Restructure and Asset Impairments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	May 30, 2024	Jun. 01, 2023	May 30, 2024	Jun. 01, 2023	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Employee severance	$ 0	$ 70	$ 0	$ 163
Asset impairments and other asset-related costs	0	1	0	9
Other	0	(3)	0	(5)
Restructure and asset impairments	$ 0	$ 68	$ 0	$ 167
Restructure headcount reduction (in hundredths)					15.00%

Other Operating (Income) Expense, Net

9 Months Ended

May 30, 2024

Other Operating (Income) Expense, Net


	Quarter ended				Nine months ended
	May 30, 2024		June 1, 2023		May 30, 2024		June 1, 2023

(Gain) loss on disposition of property, plant, and equipment	$	(38)	$	(24)	$	(63)	$	(46)
Patent cross-license agreement gain	—		—		(200)		—
Litigation settlement	—		68		—		68
Other	10		4		(4)		7
	$	(28)	$	48	$	(267)	$	29

Accounts Payable and Accrued Expenses (Tables)

9 Months Ended

May 30, 2024

Payables and Accruals [Abstract]

Schedule of Accounts Payable And Accrued Expenses


As of	May 30, 2024		August 31, 2023

Accounts payable	$	1,951	$	1,725
Property, plant, and equipment	1,663		1,419
Salaries, wages, and benefits	909		367
Income and other taxes	121		67
Other	501		380
	$	5,145	$	3,958

Revenue and Customer Contract Liabilities

9 Months Ended

May 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue and Customer Contract Liabilities

Revenue by Technology


	Quarter ended				Nine months ended
	May 30, 2024		June 1, 2023		May 30, 2024		June 1, 2023

DRAM	$	4,692	$	2,672	$	12,277	$	8,223
NAND	2,065		1,013		4,862		3,001
Other (primarily NOR)	54		67		222		306
	$	6,811	$	3,752	$	17,361	$	11,530

See “Segment and Other Information” for disclosure of disaggregated revenue by market segment.

Revenue is primarily recognized at a point in time when control of the promised goods is transferred to our customers in an amount that reflects the consideration we expect to be entitled to in exchange for those goods. Substantially all contracts with our customers are short-term in duration at fixed, negotiated prices with payment generally due shortly after delivery. From time to time, we have contracts with initial terms that include performance obligations that extend beyond one year. As of May 30, 2024, our future performance obligations beyond one year were $141 million, which included customer prepayments and other contract liabilities. Customer prepayments made to secure product supply in future periods and other contract liabilities were $756 million as of May 30, 2024, of which $615 million was reported in other current liabilities and the remainder in other noncurrent liabilities.

As of May 30, 2024 and August 31, 2023, other current liabilities also included $617 million and $453 million, respectively, for estimates of consideration payable to customers including estimates for pricing adjustments and returns.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

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-Paragraph 10
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 12
-Subparagraph (a)
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Basic and Diluted Earnings Per Share

Earnings Per Share (Tables)

9 Months Ended

May 30, 2024

Earnings Per Share [Abstract]


	Quarter ended				Nine months ended
	May 30, 2024		June 1, 2023		May 30, 2024		June 1, 2023

Net income (loss) – Basic and Diluted	$	332	$	(1,896)	$	(109)	$	(4,403)

Weighted-average common shares outstanding – Basic	1,107		1,094		1,104		1,092
Dilutive effect of equity plans	16		—		—		—
Weighted-average common shares outstanding – Diluted	1,123		1,094		1,104		1,092

Earnings (loss) per share
Basic	$	0.30	$	(1.73)	$	(0.10)	$	(4.03)
Diluted	0.30		(1.73)		(0.10)		(4.03)

Derivative Instruments - Gain (Loss) on Derivatives (Details) - Designated hedging instruments - Cash flow hedges - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 30, 2024	Jun. 01, 2023	May 30, 2024	Jun. 01, 2023
Cash Flow Hedges
Net gains (losses) recognized in other comprehensive income (loss) from cash flow hedges	$ (99)	$ (40)	$ (142)	$ 88
Gain (loss) from components excluded from cash flow hedge effectiveness	(35)	(26)	(105)	(71)
Reclassifications from other comprehensive income (loss) to earnings	$ (39)	$ (77)	(139)	$ (199)
Cash flow hedge (losses) expected to be reclassified into earnings within twelve months			$ (168)

Derivative Instruments (Tables)

9 Months Ended

May 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments


	Notional or Contractual Amount		Fair Value of
			Assets(1)		Liabilities(2)

As of May 30, 2024
Derivative instruments with hedge accounting designation
Cash flow currency hedges	$	4,177	$	2	$	(234)
Cash flow commodity hedges	458		25		(4)
Fair value interest rate hedges	900		—		(98)

Derivative instruments without hedge accounting designation
Non-designated currency hedges	1,964		4		(12)
			$	31	$	(348)

As of August 31, 2023
Derivative instruments with hedge accounting designation
Cash flow currency hedges	$	3,873	$	16	$	(180)
Cash flow commodity hedges	331		45		—
Fair value interest rate hedges	900		—		(100)

Derivative instruments without hedge accounting designation
Non-designated currency hedges	1,839		2		(17)
			$	63	$	(297)

(1)Included in receivables and other noncurrent assets.

(2)Included in accounts payable and accrued expenses and other noncurrent liabilities.

Schedule of Gains and Losses on Derivative Instruments


	Quarter ended				Nine months ended
	May 30, 2024		June 1, 2023		May 30, 2024		June 1, 2023

Gain (loss) from cash flow hedges in accumulated other comprehensive income (loss)	$	(99)	$	(40)	$	(142)	$	88
Gain (loss) excluded from effectiveness testing in cost of goods sold	(35)		(26)		(105)		(71)
Gain (loss) reclassified from accumulated other comprehensive income (loss) to earnings, primarily to cost of goods sold	(39)		(77)		(139)		(199)

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

Schedule of Results by Segment

Segment and Other Information (Tables)

9 Months Ended

May 30, 2024

Segment Reporting [Abstract]


	Quarter ended				Nine months ended
	May 30, 2024		June 1, 2023		May 30, 2024		June 1, 2023

Revenue
CNBU	$	2,573	$	1,389	$	6,495	$	4,510
MBU	1,588		819		4,479		2,419
EBU	1,294		912		3,442		2,777
SBU	1,353		627		2,911		1,814
All Other	3		5		34		10
	$	6,811	$	3,752	$	17,361	$	11,530

Operating income (loss)
CNBU	$	442	$	(337)	$	73	$	(182)
MBU	301		(478)		(395)		(1,017)
EBU	124		65		133		347
SBU	76		(601)		(631)		(1,215)
All Other	(2)		2		23		6
	941		(1,349)		(797)		(2,061)

Unallocated
Stock-based compensation	(217)		(151)		(608)		(413)
Restructure and asset impairments	—		(68)		—		(167)
Provision to write-down inventories to net realizable value	—		(401)		—		(1,831)
Lower costs from sale of inventory written down in prior periods	—		281		987		281
Patent cross-license agreement gain	—		—		200		—
Litigation settlement	—		(68)		—		(68)
Other	(5)		(5)		—		(14)
	(222)		(412)		579		(2,212)

Operating income (loss)	$	719	$	(1,761)	$	(218)	$	(4,273)

Accounts Payable and Accrued Expenses

9 Months Ended

May 30, 2024

Payables and Accruals [Abstract]

Accounts Payable and Accrued Expenses


As of	May 30, 2024		August 31, 2023

Accounts payable	$	1,951	$	1,725
Property, plant, and equipment	1,663		1,419
Salaries, wages, and benefits	909		367
Income and other taxes	121		67
Other	501		380
	$	5,145	$	3,958

Derivative Instruments

9 Months Ended

May 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments


	Notional or Contractual Amount		Fair Value of
			Assets(1)		Liabilities(2)

As of May 30, 2024
Derivative instruments with hedge accounting designation
Cash flow currency hedges	$	4,177	$	2	$	(234)
Cash flow commodity hedges	458		25		(4)
Fair value interest rate hedges	900		—		(98)

Derivative instruments without hedge accounting designation
Non-designated currency hedges	1,964		4		(12)
			$	31	$	(348)

As of August 31, 2023
Derivative instruments with hedge accounting designation
Cash flow currency hedges	$	3,873	$	16	$	(180)
Cash flow commodity hedges	331		45		—
Fair value interest rate hedges	900		—		(100)

Derivative instruments without hedge accounting designation
Non-designated currency hedges	1,839		2		(17)
			$	63	$	(297)

(1)Included in receivables and other noncurrent assets.

(2)Included in accounts payable and accrued expenses and other noncurrent liabilities.

Derivative Instruments with Hedge Accounting Designation

Cash Flow Hedges: We utilize forward and swap contracts that generally mature within two years designated as cash flow hedges to minimize our exposure to changes in currency exchange rates or commodity prices for certain capital expenditures and manufacturing costs. Forward and swap contracts are measured at fair value based on market-based observable inputs including market spot and forward rates, interest rates, and credit-risk spreads (Level 2).

The effects of cash flow hedging activities were as follows:


	Quarter ended				Nine months ended
	May 30, 2024		June 1, 2023		May 30, 2024		June 1, 2023

Gain (loss) from cash flow hedges in accumulated other comprehensive income (loss)	$	(99)	$	(40)	$	(142)	$	88
Gain (loss) excluded from effectiveness testing in cost of goods sold	(35)		(26)		(105)		(71)
Gain (loss) reclassified from accumulated other comprehensive income (loss) to earnings, primarily to cost of goods sold	(39)		(77)		(139)		(199)

As of May 30, 2024, we expect to reclassify $168 million of pre-tax losses related to cash flow hedges from accumulated other comprehensive income (loss) into earnings in the next 12 months.

Fair Value Hedges: We utilize fixed-to-floating interest rate swaps designated as fair value hedges to minimize certain exposures to changes in the fair value of fixed-rate debt that result from fluctuations in benchmark interest rates. Interest rate swaps are measured at fair value based on market-based observable inputs including interest rates and credit-risk spreads (Level 2). The changes in the fair values of derivatives designated as fair value hedges and the offsetting changes in the underlying fair values of the hedged items are both recognized in earnings. When a derivative is no longer designated as a fair value hedge for any reason, including termination and maturity, the remaining unamortized difference between the carrying value of the hedged item at that time and the face value of the hedged item is amortized to earnings over the remaining life of the hedged item, or immediately if the hedged item has matured or been extinguished. The effects of fair value hedges on our consolidated statements of operations, recognized in interest expense, were not significant for the periods presented.

Derivative Instruments without Hedge Accounting Designation

Currency Derivatives: We generally utilize a rolling hedge strategy with currency forward contracts that mature within three months to hedge our exposures of monetary assets and liabilities from changes in currency exchange rates. At the end of each reporting period, monetary assets and liabilities denominated in currencies other than the U.S. dollar are remeasured into U.S. dollars and the associated outstanding forward contracts are marked to market. Currency forward contracts are valued at fair values based on the middle of bid and ask prices of dealers or exchange quotations (Level 2). Realized and unrealized gains and losses on derivative instruments without hedge accounting designation as well as the changes in the underlying monetary assets and liabilities from changes in currency exchange rates are included in other non-operating income (expense), net. The amounts recognized for derivative instruments without hedge accounting designation were not significant for the periods presented. We do not use derivative instruments for speculative purposes.

STATEMENT OF CHANGES IN EQUITY - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Income (Loss)
Balance (in shares) at Sep. 01, 2022		1,226
Balance of total equity at Sep. 01, 2022	$ 49,907	$ 123	$ 10,197	$ 47,274	$ (7,127)	$ (560)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(195)			(195)
Other comprehensive income (loss), net	87					87
Stock issued under stock plans (in shares)		8
Stock issued under stock plans	7	$ 0	7
Stock-based compensation expense	146		146
Repurchase of stock - repurchase program	(425)				(425)
Repurchase of stock - withholdings on employee equity awards (in shares)		(2)
Repurchase of stock - withholdings on employee equity awards	$ (95)	$ 0	(15)	(80)
Dividends and dividend equivalents declared (per share)	$ 0.115
Dividends and dividend equivalents declared	$ (126)			(126)
Balance (in shares) at Dec. 01, 2022		1,232
Balance of total equity at Dec. 01, 2022	49,306	$ 123	10,335	46,873	(7,552)	(473)
Balance (in shares) at Sep. 01, 2022		1,226
Balance of total equity at Sep. 01, 2022	49,907	$ 123	10,197	47,274	(7,127)	(560)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(4,403)
Other comprehensive income (loss), net	220
Balance (in shares) at Jun. 01, 2023		1,236
Balance of total equity at Jun. 01, 2023	45,405	$ 124	10,782	42,391	(7,552)	(340)
Balance (in shares) at Dec. 01, 2022		1,232
Balance of total equity at Dec. 01, 2022	49,306	$ 123	10,335	46,873	(7,552)	(473)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(2,312)			(2,312)
Other comprehensive income (loss), net	100					100
Stock issued under stock plans (in shares)		3
Stock issued under stock plans	142	$ 0	142
Stock-based compensation expense	157		157
Repurchase of stock - withholdings on employee equity awards (in shares)		0
Repurchase of stock - withholdings on employee equity awards	$ (8)	$ 0	(1)	(7)
Dividends and dividend equivalents declared (per share)	$ 0.115
Dividends and dividend equivalents declared	$ (128)			(128)
Balance (in shares) at Mar. 02, 2023		1,235
Balance of total equity at Mar. 02, 2023	47,257	$ 123	10,633	44,426	(7,552)	(373)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(1,896)			(1,896)
Other comprehensive income (loss), net	33					33
Stock issued under stock plans (in shares)		1
Stock issued under stock plans	7	$ 1	6
Stock-based compensation expense	145		145
Repurchase of stock - withholdings on employee equity awards (in shares)		0
Repurchase of stock - withholdings on employee equity awards	$ (13)	$ 0	(2)	(11)
Dividends and dividend equivalents declared (per share)	$ 0.115
Dividends and dividend equivalents declared	$ (128)			(128)
Balance (in shares) at Jun. 01, 2023		1,236
Balance of total equity at Jun. 01, 2023	$ 45,405	$ 124	10,782	42,391	(7,552)	(340)
Balance (in shares) at Aug. 31, 2023	1,239	1,239
Balance of total equity at Aug. 31, 2023	$ 44,120	$ 124	11,036	40,824	(7,552)	(312)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(1,234)			(1,234)
Other comprehensive income (loss), net	52					52
Stock issued under stock plans (in shares)		8
Stock issued under stock plans	9	$ 0	9
Stock-based compensation expense	188		188
Repurchase of stock - withholdings on employee equity awards (in shares)		(2)
Repurchase of stock - withholdings on employee equity awards	$ (121)	$ 0	(16)	(105)
Dividends and dividend equivalents declared (per share)	$ 0.115
Dividends and dividend equivalents declared	$ (129)			(129)
Balance (in shares) at Nov. 30, 2023		1,245
Balance of total equity at Nov. 30, 2023	$ 42,885	$ 124	11,217	39,356	(7,552)	(260)
Balance (in shares) at Aug. 31, 2023	1,239	1,239
Balance of total equity at Aug. 31, 2023	$ 44,120	$ 124	11,036	40,824	(7,552)	(312)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(109)
Other comprehensive income (loss), net	$ 1
Balance (in shares) at May. 30, 2024	1,250	1,250
Balance of total equity at May. 30, 2024	$ 44,225	$ 125	11,794	40,169	(7,552)	(311)
Balance (in shares) at Nov. 30, 2023		1,245
Balance of total equity at Nov. 30, 2023	42,885	$ 124	11,217	39,356	(7,552)	(260)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	793			793
Other comprehensive income (loss), net	(4)					(4)
Stock issued under stock plans (in shares)		3
Stock issued under stock plans	137	$ 1	136
Stock-based compensation expense	213		213
Repurchase of stock - withholdings on employee equity awards (in shares)		0
Repurchase of stock - withholdings on employee equity awards	$ (24)	$ 0	(2)	(22)
Dividends and dividend equivalents declared (per share)	$ 0.115
Dividends and dividend equivalents declared	$ (130)			(130)
Balance (in shares) at Feb. 29, 2024		1,248
Balance of total equity at Feb. 29, 2024	43,870	$ 125	11,564	39,997	(7,552)	(264)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	332			332
Other comprehensive income (loss), net	(47)					(47)
Stock issued under stock plans (in shares)		2
Stock issued under stock plans	14	$ 0	14
Stock-based compensation expense	219		219
Repurchase of stock - withholdings on employee equity awards (in shares)		0
Repurchase of stock - withholdings on employee equity awards	$ (33)	$ 0	(3)	(30)
Dividends and dividend equivalents declared (per share)	$ 0.115
Dividends and dividend equivalents declared	$ (130)			(130)
Balance (in shares) at May. 30, 2024	1,250	1,250
Balance of total equity at May. 30, 2024	$ 44,225	$ 125	$ 11,794	$ 40,169	$ (7,552)	$ (311)

Property, Plant, and Equipment (Tables)

9 Months Ended

May 30, 2024

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant, and Equipment


As of	May 30, 2024		August 31, 2023

Land	$	284	$	283
Buildings	19,134		17,967
Equipment(1)	68,426		65,555
Construction in progress(2)	3,351		2,464
Software	1,346		1,316
	92,541		87,585
Accumulated depreciation	(54,615)		(49,657)
	$	37,926	$	37,928

(1)Includes costs related to equipment not placed into service of $1.77 billion as of May 30, 2024 and $2.91 billion as of August 31, 2023.

(2)Includes building-related construction, tool installation, and software costs for assets not placed into service.

Leases - Maturities (Details) - USD ($) $ in Millions	May 30, 2024	Aug. 31, 2023
Finance Lease Maturities
Remainder of 2024	$ 95
2025	368
2026	351
2027	341
2028	328
2029 and thereafter	778
Less imputed interest	(335)
Total Finance Lease Obligations	1,926	$ 1,281
Operating Lease Maturities
Remainder of 2024	9
2025	86
2026	88
2027	86
2028	80
2029 and thereafter	468
Less imputed interest	(140)
Operating Lease Liability	$ 677

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	May 30, 2024	Jun. 01, 2023	May 30, 2024	Jun. 01, 2023
Income Tax Disclosure [Abstract]
Income (loss) before taxes	$ 715	$ (1,753)	$ (270)	$ (4,200)
Income tax (provision) benefit	$ (377)	$ (139)	$ 172	$ (201)
Effective tax rate	52.70%	(7.90%)	63.70%	(4.80%)
Other Income Tax Assets, Current	$ 539		$ 539

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Share-Based Payment Arrangement [Abstract]

Equity Plans (Tables)

9 Months Ended

May 30, 2024

Schedule of Restricted Stock Awards Activity


Nine months ended	May 30, 2024		June 1, 2023

Restricted stock award shares granted	12		14
Weighted-average grant-date fair value per share	$	69.02	$	54.13

Schedule of Stock-based Compensation Expense


	Quarter ended				Nine months ended
	May 30, 2024		June 1, 2023		May 30, 2024		June 1, 2023

Stock-based compensation expense by caption
Cost of goods sold	$	80	$	61	$	227	$	137
Research and development	77		57		222		169
Selling, general, and administrative	60		34		159		107
Restructure	—		(4)		—		(6)
	$	217	$	148	$	608	$	407

Stock-based compensation expense by type of award
Restricted stock awards	$	201	$	129	$	555	$	354
ESPP	16		19		53		53
	$	217	$	148	$	608	$	407

Other Operating (Income) Expense, Net (Tables)

9 Months Ended

May 30, 2024

Other Income and Expenses [Abstract]

Schedule of Other Operating (Income) Expense, Net


	Quarter ended				Nine months ended
	May 30, 2024		June 1, 2023		May 30, 2024		June 1, 2023

(Gain) loss on disposition of property, plant, and equipment	$	(38)	$	(24)	$	(63)	$	(46)
Patent cross-license agreement gain	—		—		(200)		—
Litigation settlement	—		68		—		68
Other	10		4		(4)		7
	$	(28)	$	48	$	(267)	$	29

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	May 30, 2024	Jun. 01, 2023	May 30, 2024	Jun. 01, 2023
Income Statement [Abstract]
Revenue	$ 6,811	$ 3,752	$ 17,361	$ 11,530
Cost of goods sold	4,979	4,420	14,485	12,511
Gross margin	1,832	(668)	2,876	(981)
Research and development	850	758	2,527	2,395
Selling, general, and administrative	291	219	834	701
Restructure and asset impairments	0	68	0	167
Other operating (income) expense, net	(28)	48	(267)	29
Operating income (loss)	719	(1,761)	(218)	(4,273)
Interest income	136	127	398	334
Interest expense	(150)	(119)	(426)	(259)
Other non-operating income (expense), net	10	0	(24)	(2)
Income (loss) before income taxes and equity in net income (loss) of equity method investees	715	(1,753)	(270)	(4,200)
Income tax (provision) benefit	(377)	(139)	172	(201)
Equity in net income (loss) of equity method investees	(6)	(4)	(11)	(2)
Net income (loss)	$ 332	$ (1,896)	$ (109)	$ (4,403)
Earnings (loss) per share
Basic (in dollars per share)	$ 0.30	$ (1.73)	$ (0.10)	$ (4.03)
Diluted (in dollars per share)	$ 0.30	$ (1.73)	$ (0.10)	$ (4.03)
Number of shares used in per share calculations
Basic (in shares)	1,107	1,094	1,104	1,092
Diluted (in shares)	1,123	1,094	1,104	1,092

Cover Page - shares	9 Months Ended
Cover Page - shares	May 30, 2024	Jun. 20, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 30, 2024
Document Transition Report	false
Entity File Number	1-10658
Entity Registrant Name	Micron Technology, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-1618004
Entity Address, Address Line One	8000 S. Federal Way
Entity Address, City or Town	Boise
Entity Address, State or Province	ID
Entity Address, Postal Zip Code	83716
City Area Code	208
Local Phone Number	368-4000
Title of 12(b) Security	Common Stock, par value $0.10 per share
Trading Symbol	MU
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,108,841,326
Entity Central Index Key	0000723125
Current Fiscal Year End Date	--08-29
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Revenue and Customer Contract Liabilities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	May 30, 2024	Jun. 01, 2023	May 30, 2024	Jun. 01, 2023	Aug. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 6,811	$ 3,752	$ 17,361	$ 11,530
Total contract liabilities	756		756
Current customer contract liabilities	615		615
Estimated consideration payable to customers for pricing adjustments and returns	617		617		$ 453
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-05-30
Disaggregation of Revenue [Line Items]
Future performance obligation beyond one year	$ 141		$ 141
Expected timing of satisfaction of future performance obligation
DRAM
Disaggregation of Revenue [Line Items]
Revenue	$ 4,692	2,672	$ 12,277	8,223
NAND
Disaggregation of Revenue [Line Items]
Revenue	2,065	1,013	4,862	3,001
Other (primarily NOR)
Disaggregation of Revenue [Line Items]
Revenue	$ 54	$ 67	$ 222	$ 306

Receivables

9 Months Ended

May 30, 2024

Receivables [Abstract]

Receivables


As of	May 30, 2024		August 31, 2023

Trade receivables	$	4,416	$	2,048
Government incentives	340		105
Income and other taxes	208		194
Other	167		96
	$	5,131	$	2,443

Certain Concentrations (Details) - Revenue from Contract with Customer	9 Months Ended
	May 30, 2024	Jun. 01, 2023
Product Concentration Risk \| Mobile
Concentration Risk [Line Items]
Concentration Risk, Percentage	25.00%	20.00%
Product Concentration Risk \| Automotive, industrial, and consumer
Concentration Risk [Line Items]
Concentration Risk, Percentage	20.00%	25.00%
Product Concentration Risk \| Enterprise and cloud server
Concentration Risk [Line Items]
Concentration Risk, Percentage	20.00%	20.00%
Product Concentration Risk \| Client and graphics
Concentration Risk [Line Items]
Concentration Risk, Percentage	15.00%	20.00%
Product Concentration Risk \| SSDs and other storage
Concentration Risk [Line Items]
Concentration Risk, Percentage	15.00%	15.00%
Customer Concentration Risk \| Undisclosed Customer
Concentration Risk [Line Items]
Concentration Risk, Percentage	11.00%

Significant Accounting Policies	9 Months Ended
Significant Accounting Policies	May 30, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies For a discussion of our significant accounting policies, see “Part II – Item 8. Financial Statements and Supplementary Data – Notes to Consolidated Financial Statements – Significant Accounting Policies” of our Annual Report on Form 10-K for the year ended August 31, 2023. There have been no changes to our significant accounting policies since our Annual Report on Form 10-K for the year ended August 31, 2023. Basis of Presentation The accompanying consolidated financial statements include the accounts of Micron Technology, Inc. and our consolidated subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) consistent in all material respects with those applied in our Annual Report on Form 10-K for the year ended August 31, 2023. In the opinion of our management, the accompanying unaudited consolidated financial statements contain all necessary adjustments, consisting of a normal recurring nature, to fairly state the financial information set forth herein. Certain reclassifications have been made to prior period amounts to conform to current period presentation. Our fiscal year is the 52 or 53-week period ending on the Thursday closest to August 31. Fiscal years 2024 and 2023 each contain 52 weeks. All period references are to our fiscal periods unless otherwise indicated. These interim financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended August 31, 2023.

Debt - Debt Activity and 2031 Notes (Details) - USD ($)			9 Months Ended
Debt - Debt Activity and 2031 Notes (Details) - USD ($)	May 29, 2024	Jan. 12, 2024	May 30, 2024
Debt Activity
Increase (Decrease) in Principal			$ (640,000,000)
Increase (Decrease) in Carrying Value			(644,000,000)
Increase (Decrease) in Cash From Certain Debt Activities, Net			(647,000,000)
2031 Notes
Debt Instrument, Unamortized Discount Debt Issuance Costs			$ 34,000,000
2031 Notes \| Corporate Bonds
Debt Activity
Increase (Decrease) in Principal		$ 1,000,000,000
Increase (Decrease) in Carrying Value		993,000,000
Increase in Cash - Issuance		993,000,000
2031 Notes
Debt Instrument, Face Amount		$ 1,000,000,000
Debt Instrument, Interest Rate, Stated Percentage		5.30%	5.30%
Debt Instrument, Unamortized Discount Debt Issuance Costs		$ 7,000,000
Redemption Price Percentage (in hundredths)		100.00%
Debt Covenant, Restricted Subsidiaries, Ownership Percentage by Parent (in hundredths)		80.00%
Debt Instrument, Redemption Price Percentage, Change in Control Event (in hundredths)		101.00%
Debt Instrument, Covenant Description			The 2031 Notes contain covenants that, among other things, limit, in certain circumstances, our ability and/or the ability of our restricted subsidiaries (which are generally domestic subsidiaries in which we own at least 80% of the voting stock and which own principal property, as defined in the indenture governing the 2031 Notes) to (1) create or incur certain liens; (2) enter into certain sale and lease-back transactions; and (3) consolidate with or merge with or into, or convey, transfer, or lease all or substantially all of our properties and assets, to another entity. These covenants are subject to a number of limitations and exceptions. Additionally, if a change of control triggering event occurs, as defined in the indenture governing the 2031 Notes, we will be required to offer to purchase the 2031 Notes at 101% of the outstanding aggregate principal amount plus accrued interest up to the purchase date.
2024 Term Loan A \| Term Loan
Debt Activity
Increase (Decrease) in Principal		$ (588,000,000)
Increase (Decrease) in Carrying Value		(587,000,000)
(Decrease) in Cash - Prepayments		(588,000,000)
2025 Term Loan A \| Term Loan
Debt Activity
Increase (Decrease) in Principal	$ (650,000,000)	(402,000,000)
Increase (Decrease) in Carrying Value	(649,000,000)	(401,000,000)
(Decrease) in Cash - Prepayments	$ (650,000,000)	$ (402,000,000)

Segment and Other Information (Details) $ in Millions	3 Months Ended		9 Months Ended
Segment and Other Information (Details) $ in Millions	May 30, 2024 USD ($)	Jun. 01, 2023 USD ($)	May 30, 2024 USD ($) segment	Jun. 01, 2023 USD ($)
Reportable Segments
Number of reportable segments \| segment			4
Net sales
Revenue	$ 6,811	$ 3,752	$ 17,361	$ 11,530
Operating income (loss)
Operating income (loss)	719	(1,761)	(218)	(4,273)
Unallocated
Stock-based compensation	(217)	(148)	(608)	(407)
Restructure and asset impairments	0	(68)	0	(167)
Provision to write-down inventories to net realizable value			0	(1,831)
Patent cross-license agreement gain	0	0	200	0
Litigation settlement	0	(68)	0	(68)
Operating Segments
Operating income (loss)
Operating income (loss)	941	(1,349)	(797)	(2,061)
Unallocated
Operating income (loss)
Operating income (loss)	(222)	(412)	579	(2,212)
Unallocated
Stock-based compensation	(217)	(151)	(608)	(413)
Restructure and asset impairments	0	(68)	0	(167)
Provision to write-down inventories to net realizable value	0	(401)	0	(1,831)
Lower costs from sale of inventory written down in prior periods	0	281	987	281
Patent cross-license agreement gain	0	0	200	0
Litigation settlement	0	(68)	0	(68)
Other	(5)	(5)	0	(14)
CNBU
Net sales
Revenue	2,573	1,389	6,495	4,510
CNBU \| Operating Segments
Operating income (loss)
Operating income (loss)	442	(337)	73	(182)
MBU
Net sales
Revenue	1,588	819	4,479	2,419
MBU \| Operating Segments
Operating income (loss)
Operating income (loss)	301	(478)	(395)	(1,017)
EBU
Net sales
Revenue	1,294	912	3,442	2,777
EBU \| Operating Segments
Operating income (loss)
Operating income (loss)	124	65	133	347
SBU
Net sales
Revenue	1,353	627	2,911	1,814
SBU \| Operating Segments
Operating income (loss)
Operating income (loss)	76	(601)	(631)	(1,215)
All Other
Net sales
Revenue	3	5	34	10
All Other \| Operating Segments
Operating income (loss)
Operating income (loss)	$ (2)	$ 2	$ 23	$ 6

Equity Plans

9 Months Ended

May 30, 2024

Share-Based Payment Arrangement [Abstract]

Equity Plans

As of May 30, 2024, 72 million shares of our common stock were available for future awards under our equity plans, including 12 million shares approved for issuance under our employee stock purchase plan (“ESPP”).

Restricted Stock and Restricted Stock Units (“Restricted Stock Awards”)

Restricted Stock Awards activity is summarized as follows:


Nine months ended	May 30, 2024		June 1, 2023

Restricted stock award shares granted	12		14
Weighted-average grant-date fair value per share	$	69.02	$	54.13

Employee Stock Purchase Plan (“ESPP”)

For each six-month ESPP offering period that ended in the second quarter of 2024 and 2023, employees purchased 2 million and 3 million shares, respectively, at a share price of $60.68 and $52.45, respectively.

Stock-based Compensation Expense

Stock-based compensation expense recognized in our statements of operations is presented below. Stock-based compensation expense of $100 million and $88 million was capitalized and remained in inventory as of May 30, 2024 and August 31, 2023, respectively.


	Quarter ended				Nine months ended
	May 30, 2024		June 1, 2023		May 30, 2024		June 1, 2023

Stock-based compensation expense by caption
Cost of goods sold	$	80	$	61	$	227	$	137
Research and development	77		57		222		169
Selling, general, and administrative	60		34		159		107
Restructure	—		(4)		—		(6)
	$	217	$	148	$	608	$	407

Stock-based compensation expense by type of award
Restricted stock awards	$	201	$	129	$	555	$	354
ESPP	16		19		53		53
	$	217	$	148	$	608	$	407

As of May 30, 2024, $1.51 billion of total unrecognized compensation costs for unvested awards, before the effect of any future forfeitures, was expected to be recognized through the third quarter of 2028, resulting in a weighted-average period of 1.3 years.

Variable Interest Entities	9 Months Ended
Variable Interest Entities	May 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities A number of special purpose entities (the "Lease SPEs") were created by a third-party to facilitate equipment lease financing transactions between us and financial institutions that fund the lease financing transactions ("Financing Entities"). Neither we nor the Financing Entities have an equity interest in the Lease SPEs. The Lease SPEs are variable interest entities because their equity is not sufficient to permit them to finance their activities without additional support from the Financing Entities and because the third-party equity holder lacks characteristics of a controlling financial interest. By design, the arrangements with the Lease SPEs are merely financing vehicles and we do not bear any significant risks from variable interests with the Lease SPEs. We have determined that we do not have the power to direct the activities of the Lease SPEs that most significantly impact their economic performance and we do not consolidate the Lease SPEs. As of May 30, 2024, we had approximately $600 million of financial lease liabilities and right-of-use assets under these arrangements.

Significant Accounting Policies (Policies)	9 Months Ended
Significant Accounting Policies (Policies)	May 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	The accompanying consolidated financial statements include the accounts of Micron Technology, Inc. and our consolidated subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) consistent in all material respects with those applied in our Annual Report on Form 10-K for the year ended August 31, 2023.
Reclassifications	Certain reclassifications have been made to prior period amounts to conform to current period presentation.
Fiscal Period	Our fiscal year is the 52 or 53-week period ending on the Thursday closest to August 31. Fiscal years 2024 and 2023 each contain 52 weeks. All period references are to our fiscal periods unless otherwise indicated.

Receivables (Details) - USD ($) $ in Millions	May 30, 2024	Aug. 31, 2023
Receivables [Abstract]
Trade receivables	$ 4,416	$ 2,048
Government incentives	340	105
Income and other taxes	208	194
Other	167	96
Receivables	$ 5,131	$ 2,443

Contingencies	9 Months Ended
Contingencies	May 30, 2024
Loss Contingency [Abstract]
Contingencies	Contingencies We are currently a party to legal actions other than those described below arising from the normal course of business, none of which are expected to have a material adverse effect on our business, results of operations, or financial condition. Patent Matters As is typical in the semiconductor and other high-tech industries, from time to time, others have asserted, and may in the future assert, that our products or manufacturing processes infringe upon their intellectual property rights. A description of certain claims is below. On April 28, 2021, Netlist, Inc. (“Netlist”) filed two patent infringement actions against Micron, Micron Semiconductor Products, Inc. (“MSP”), and Micron Technology Texas, LLC (“MTEC”) in the U.S. District Court for the Western District of Texas. The first complaint alleges that one U.S. patent is infringed by certain of our non-volatile dual in-line memory modules. The second complaint alleges that three U.S. patents are infringed by certain of our load-reduced dual in-line memory modules (“LRDIMMs”). Each complaint seeks injunctive relief, damages, attorneys’ fees, and costs. On March 31, 2022, Netlist filed a patent infringement complaint against Micron and Micron Semiconductor Germany, GmbH in Dusseldorf Regional Court alleging that two German patents are infringed by certain of our LRDIMMs. The complaint seeks damages, costs, and injunctive relief. On June 10, 2022, Netlist filed a patent infringement complaint against Micron, MSP, and MTEC in the U.S. District Court for the Eastern District of Texas (“E.D. Tex.”) alleging that six U.S. patents are infringed by certain of our memory modules and HBM products. On August 1, 2022, Netlist filed a second patent infringement complaint against the same defendants in E.D. Tex. alleging that one U.S. patent is infringed by certain of our LRDIMMs. On August 15, 2022, Netlist amended the second complaint to assert that two additional U.S. patents are infringed by certain of our LRDIMMs. The complaints in E.D. Tex. seek injunctive relief, damages, and attorneys’ fees. On May 23, 2024, following a four-day trial regarding the second complaint filed by Netlist in the E.D. Tex., a jury rendered a verdict that Micron’s memory modules infringe two asserted patents — U.S. Patent No. 7,619,912 (“the ‘912 patent”) and U.S. Patent No. 11,093,417 (“the ‘417 patent”) — and found that Micron should pay $425 million for infringement of the ‘912 patent and $20 million for infringement of the ‘417 patent. Micron expects to appeal the verdict. On April 17, 2024, the Patent Trial and Appeal Board (“PTAB”) of the United States Patent and Trademark Office (“USPTO”) issued a final written decision (“FWD”) finding unpatentable the sole asserted claim of the ‘912 patent. Netlist has sought review of that ruling by the Director of the USPTO. If the Director upholds the FWD, and the United States Court of Appeals for the Federal Circuit subsequently affirms the FWD, then the affirmed FWD will preclude any pending actions asserting infringement of the ‘912 patent (including any infringement verdict that is subject to an ongoing appeal). The PTAB’s final written decision regarding whether all claims of the ‘417 patent are also unpatentable is expected to be issued on or before August 2, 2024. On August 16, 2022, Sonrai Memory Ltd. filed a patent infringement complaint against Micron in the U.S. District Court for the Western District of Texas. The complaint alleges that two U.S. patents are infringed by certain SSD and NAND flash products. The complaint seeks damages, attorneys’ fees, and costs. On January 23, 2023, Besang Inc. filed a patent infringement complaint against Micron in the U.S. District Court for the Eastern District of Texas. The complaint alleges that one U.S. patent is infringed by certain of our 3D NAND and SSD products. The complaint seeks an injunction, damages, attorneys’ fees, and costs. On November 9, 2023, Yangtze Memory Technologies Company, Ltd. (“YMTC”) filed a patent infringement complaint against Micron and one of its subsidiaries in the U.S. District Court for the Northern District of California. The complaint alleges that eight U.S. patents are infringed by certain of our 3D NAND products. The complaint seeks an injunction, damages, attorneys’ fees, and costs. On January 22, 2024, Micron Semiconductor (Shanghai) Co., Ltd. (“MSS”) was served with three patent infringement complaints filed by YMTC in Beijing Intellectual Property Court and on February 27, 2024, Micron Technology, Inc. (“MTI”) was served with the same complaints. The complaints assert that MTI and MSS infringed three Chinese patents owned by YMTC by importing, selling, offering for sale, and assisting others to sell certain 3D NAND products and SSDs in China. The complaint seeks an injunction, damages, attorneys’ fees, and costs. On June 3, 2024, MimirIP LLC (“MimirIP”) submitted a complaint to the United States International Trade Commission (“ITC”) alleging that certain of Micron’s DRAM and NAND products infringe six patents owned by MimirIP. The complaint requests the ITC to institute an investigation of such alleged infringement pursuant to Section 337 of the Tariff Act of 1930 and to issue a permanent limited exclusion order barring from entry into the United States such allegedly infringing DRAM and NAND devices and electronic devices containing the same produced by several alleged customers of Micron. On June 3, 2024, MimirIP filed a complaint against Micron, two of its subsidiaries, and certain alleged customers of Micron in the E.D. Tex. alleging that the same six patents as are asserted in the ITC are infringed by certain of Micron’s DRAM and NAND products. The complaint seeks damages, attorneys’ fees, and costs. On June 4, 2024, MimirIP filed a second complaint against Micron, two of its subsidiaries, and certain alleged customers of Micron in the E.D. Tex. alleging that six additional patents are infringed by certain of Micron’s DRAM and NAND products. The complaint seeks damages, attorneys’ fees, and costs. The above lawsuits pertain to substantially all of our DRAM, NAND, and other memory and storage products we manufacture, which account for substantially all of our revenue. Antitrust Matters On May 15, 2018, the Chinese State Administration for Market Regulation (“SAMR”) notified Micron that it was investigating potential collusion and other anticompetitive conduct by DRAM suppliers in China. On May 31, 2018, SAMR made unannounced visits to our sales offices in Beijing, Shanghai, and Shenzhen to seek certain information as part of its investigation. We are cooperating with SAMR in its investigation. Other Matters In the normal course of business, we are a party to a variety of agreements pursuant to which we may be obligated to indemnify another party. It is not possible to predict the maximum potential amount of future payments under these types of agreements due to the conditional nature of our obligations and the unique facts and circumstances involved in each particular agreement. Historically, our payments under these types of agreements have not had a material adverse effect on our business, results of operations, or financial condition. Contingency Assessment We are unable to predict the outcome of any of the matters noted above and cannot make a reasonable estimate of the potential loss or range of possible losses. A determination that our products or manufacturing processes infringe the intellectual property rights of others or entering into a license agreement covering such intellectual property could result in significant liability and/or require us to make material changes to our products and/or manufacturing processes. Any of the foregoing, as well as the resolution of any other legal matter noted above, could have a material adverse effect on our business, results of operations, or financial condition.

The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

9 Months Ended

May 30, 2024

Intangible Assets


	As of May 30, 2024						As of August 31, 2023
	Gross Amount		Accumulated Amortization		Net Carrying Amount		Gross Amount		Accumulated Amortization		Net Carrying Amount

Product and process technology	$	662	$	(260)	$	402	$	613	$	(209)	$	404
Other	11		—		11		—		—		—
	$	673	$	(260)	$	413	$	613	$	(209)	$	404

In the first nine months of 2024 and 2023, we capitalized $60 million and $72 million, respectively, for product and process technology with weighted-average useful lives of 10 years and 9 years, respectively. Amortization expense was $61 million and $66 million for the first nine months of 2024 and 2023, respectively. Expected amortization expense is $21 million for the remainder of 2024, $63 million for 2025, $53 million for 2026, $49 million for 2027, and $47 million for 2028.

Debt - Revolving Credit Facility (Details)	9 Months Ended
Debt - Revolving Credit Facility (Details)	May 30, 2024 USD ($) Rate
Revolving Credit Facility
Total Long-term Debt	$ 11,332,000,000
Revolving Credit Facility \| 2026 Revolving Credit Facility
Revolving Credit Facility
Total Long-term Debt	0
Available Borrowing Capacity	$ 2,500,000,000
Debt Covenants
[Original] Debt Covenant, Ratio Of Total Debt To Adjusted EBITDA \| Rate	325.00%
[Temp Amendment] Debt Instrument, Covenant, Ratio Of Net Debt To Adjusted EBITDA \| Rate	325.00%
[Temp Amendment] Debt Instrument, Covenant, Minimum Liquidity	$ 5,000,000,000
[Original and Temp Amendment] Debt Instrument, Covenant, Ratio of Total Debt To Adjusted EBITDA, Temporary Increase \| Rate	375.00%
Debt Instrument, Covenant Description	The Revolving Credit Facility requires us to maintain, on a consolidated basis, a leverage ratio of total indebtedness to adjusted EBITDA, as defined in the Revolving Credit Facility and calculated as of the last day of each fiscal quarter, not to exceed 3.25 to 1.00. On March 27, 2023, we amended the Revolving Credit Facility to provide that in lieu of the foregoing leverage ratio, during the fourth quarter of 2023 and each quarter of 2024, we will be required to maintain, on a consolidated basis, a net leverage ratio of total net indebtedness to adjusted EBITDA, as defined in the Revolving Credit Facility and calculated as of the last day of each fiscal quarter, not to exceed 3.25 to 1.00. Alternatively, for up to three of such five quarters, we may elect to comply with a requirement of minimum liquidity, as defined in the Revolving Credit Facility, of not less than $5.0 billion. Each of the leverage ratio and net leverage ratio maximums, as applicable, is subject to a temporary four quarter increase in such ratio to 3.75 to 1.00 following certain material acquisitions. Through the third quarter of 2024, we complied with these requirements under the Revolving Credit Facility.
Revolving Credit Facility \| 2026 Revolving Credit Facility \| Minimum \| Adjusted term SOFR
Revolving Credit Facility
Debt Instrument, Basis Spread on Variable Rate	1.00%
Revolving Credit Facility \| 2026 Revolving Credit Facility \| Minimum \| SOFR
Revolving Credit Facility
Debt Instrument, Basis Spread on Variable Rate	0.11%
Revolving Credit Facility \| 2026 Revolving Credit Facility \| Maximum \| Adjusted term SOFR
Revolving Credit Facility
Debt Instrument, Basis Spread on Variable Rate	1.75%
Revolving Credit Facility \| 2026 Revolving Credit Facility \| Maximum \| SOFR
Revolving Credit Facility
Debt Instrument, Basis Spread on Variable Rate	0.43%

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended						9 Months Ended
	May 30, 2024	Feb. 29, 2024	Nov. 30, 2023	Jun. 01, 2023	Mar. 02, 2023	Dec. 01, 2022	May 30, 2024	Jun. 01, 2023
Earnings Per Share Reconciliation
Net income (loss) - Basic	$ 332	$ 793	$ (1,234)	$ (1,896)	$ (2,312)	$ (195)	$ (109)	$ (4,403)
Net income (loss) - Diluted	$ 332			$ (1,896)			$ (109)	$ (4,403)
Weighted Average Number of Shares Outstanding Reconciliation
Weighted-average common shares outstanding – Basic	1,107			1,094			1,104	1,092
Dilutive effect of equity plans	16			0			0	0
Weighted-average common shares outstanding – Diluted	1,123			1,094			1,104	1,092
Basic (in dollars per share)	$ 0.30			$ (1.73)			$ (0.10)	$ (4.03)
Diluted (in dollars per share)	$ 0.30			$ (1.73)			$ (0.10)	$ (4.03)
Antidilutive potential common shares that could dilute basic earnings per share in the future (in shares)	1			31			31	33

Cash and Investments (Tables)

9 Months Ended

May 30, 2024

Investments and Cash [Abstract]

Cash and Investments


	As of May 30, 2024								As of August 31, 2023
	Cash and Equivalents		Short-term Investments		Long-term Marketable Investments(1)		Total Fair Value		Cash and Equivalents		Short-term Investments		Long-term Marketable Investments(1)		Total Fair Value

Cash	$	6,355	$	—	$	—	$	6,355	$	5,771	$	—	$	—	$	5,771
Level 1(2)
Money market funds	570		—		—		570		1,629		—		—		1,629
Level 2(3)
Certificates of deposit	554		6		—		560		1,172		25		—		1,197
Corporate bonds	—		454		418		872		—		737		437		1,174
Asset-backed securities	—		42		337		379		—		15		387		402
Commercial paper	56		130		—		186		—		109		—		109
Government securities	59		153		20		232		5		131		20		156
	7,594		$	785	$	775	$	9,154	8,577		$	1,017	$	844	$	10,438
Restricted cash(4)	70								79
Cash, cash equivalents, and restricted cash	$	7,664							$	8,656

(1)The maturities of long-term marketable investments primarily range from one to five years, except for asset-backed securities which are not due at a single maturity date.

(2)The fair value of Level 1 securities is measured based on quoted prices in active markets for identical assets.

Cash and equivalents and the fair values of available-for-sale investments


	As of May 30, 2024								As of August 31, 2023
	Cash and Equivalents		Short-term Investments		Long-term Marketable Investments(1)		Total Fair Value		Cash and Equivalents		Short-term Investments		Long-term Marketable Investments(1)		Total Fair Value

Cash	$	6,355	$	—	$	—	$	6,355	$	5,771	$	—	$	—	$	5,771
Level 1(2)
Money market funds	570		—		—		570		1,629		—		—		1,629
Level 2(3)
Certificates of deposit	554		6		—		560		1,172		25		—		1,197
Corporate bonds	—		454		418		872		—		737		437		1,174
Asset-backed securities	—		42		337		379		—		15		387		402
Commercial paper	56		130		—		186		—		109		—		109
Government securities	59		153		20		232		5		131		20		156
	7,594		$	785	$	775	$	9,154	8,577		$	1,017	$	844	$	10,438
Restricted cash(4)	70								79
Cash, cash equivalents, and restricted cash	$	7,664							$	8,656

(1)The maturities of long-term marketable investments primarily range from one to five years, except for asset-backed securities which are not due at a single maturity date.

(2)The fair value of Level 1 securities is measured based on quoted prices in active markets for identical assets.

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Debt Securities, Available-for-sale [Line Items]

Cash and Investments - Non-marketable Equity Investments (Details) - USD ($) $ in Millions	9 Months Ended
	May 30, 2024	Aug. 31, 2023
Equity Securities without Readily Determinable Fair Value [Line Items]
Equity Securities without Readily Determinable Fair Value, Impairment Loss	$ 29
Fair Value, Inputs, Level 3
Equity Securities without Readily Determinable Fair Value [Line Items]
Equity Securities without Readily Determinable Fair Value	$ 192	$ 218

Inventories

9 Months Ended

May 30, 2024

Inventory Disclosure [Abstract]

Inventories


As of	May 30, 2024		August 31, 2023

Finished goods	$	1,280	$	1,616
Work in process	6,542		6,111
Raw materials and supplies	690		660
	$	8,512	$	8,387

Cash and Investments (Details) - USD ($)
$ in Millions

May 30, 2024

Aug. 31, 2023

Jun. 01, 2023

Sep. 01, 2022

$ 7,594

$ 8,577

785

1,017

^[1]

775

844

Cash, cash equivalents, and restricted cash

9,154

10,438

Restricted cash

^[2]

$ 7,664

8,656

$ 9,370

$ 8,339

Minimum

Debt Securities, Available-for-sale [Line Items]

Debt Securities, Available-for-sale, Term, Noncurrent

1 year

Maximum

Debt Securities, Available-for-sale [Line Items]

Debt Securities, Available-for-sale, Term, Noncurrent

5 years

Cash

Debt Securities, Available-for-sale [Line Items]

$ 6,355

5,771

Money market funds | Level 1

6,355

5,771

Debt Securities, Available-for-sale [Line Items]

^[3]

570

1,629

^[3]

^[1],[3]

Certificates of deposit | Level 2

^[3]

570

1,629

Debt Securities, Available-for-sale [Line Items]

^[4]

554

1,172

^[4]

^[1],[4]

Corporate bonds | Level 2

^[4]

560

1,197

Debt Securities, Available-for-sale [Line Items]

^[4]

^[4]

454

737

^[1],[4]

418

437

Asset-backed securities | Level 2

^[4]

872

1,174

Debt Securities, Available-for-sale [Line Items]

^[4]

^[4]

^[1],[4]

337

387

Commercial paper | Level 2

^[4]

379

402

Debt Securities, Available-for-sale [Line Items]

^[4]

^[4]

130

109

^[1],[4]

Government securities | Level 2

^[4]

186

109

Debt Securities, Available-for-sale [Line Items]

^[4]

^[4]

153

131

^[1],[4]

^[4]

$ 232

$ 156

[1]	The maturities of long-term marketable investments primarily range from one to five years, except for asset-backed securities which are not due at a single maturity date.
[2]	Restricted cash is included in other current assets and other noncurrent assets and primarily relates to certain government incentives received prior to being earned and for which restrictions lapse upon achieving certain performance conditions or which will be returned if performance conditions are not met.
[3]	The fair value of Level 1 securities is measured based on quoted prices in active markets for identical assets.
[4]	The fair value of Level 2 securities is measured using information obtained from pricing services, which obtain quoted market prices for similar instruments, non-binding market consensus prices that are corroborated by observable market data, or various other methodologies, to determine the appropriate value at the measurement date. We perform supplemental analysis to validate information obtained from these pricing services. No adjustments were made to the fair values indicated by such pricing information as of May 30, 2024 or August 31, 2023.

Debt

9 Months Ended

May 30, 2024

Debt Disclosure [Abstract]

Debt


	As of May 30, 2024										As of August 31, 2023
					Net Carrying Amount						Net Carrying Amount
	Stated Rate		Effective Rate		Current		Long-Term		Total		Current		Long-Term		Total

2026 Term Loan A	6.791	%	6.93	%	$	49	$	884	$	933	$	49	$	921	$	970
2027 Term Loan A	6.916	%	7.05	%	57		1,021		1,078		57		1,063		1,120
2026 Notes	4.975	%	5.07	%	—		499		499		—		499		499
2027 Notes(1)	4.185	%	4.27	%	—		800		800		—		798		798
2028 Notes	5.375	%	5.52	%	—		597		597		—		596		596
2029 A Notes	5.327	%	5.40	%	—		698		698		—		697		697
2029 B Notes	6.750	%	6.54	%	—		1,262		1,262		—		1,263		1,263
2030 Notes	4.663	%	4.73	%	—		847		847		—		846		846
2031 Notes	5.300	%	5.41	%	—		994		994		—		—		—
2032 Green Bonds	2.703	%	2.77	%	—		995		995		—		995		995
2033 A Notes	5.875	%	5.96	%	—		745		745		—		745		745
2033 B Notes	5.875	%	6.01	%	—		891		891		—		890		890
2041 Notes	3.366	%	3.41	%	—		497		497		—		497		497
2051 Notes	3.477	%	3.52	%	—		496		496		—		496		496
2024 Term Loan A	N/A		N/A		—		—		—		—		587		587
2025 Term Loan A	N/A		N/A		—		—		—		—		1,050		1,050
Finance lease obligations	N/A		4.78	%	292		1,634		1,926		172		1,109		1,281
					$	398	$	12,860	$	13,258	$	278	$	13,052	$	13,330

Debt Activity

The table below presents the effects of debt financing and prepayment activities in the first nine months of 2024:


	Transaction Date	Increase (Decrease) in Principal		Increase (Decrease) in Carrying Value		Increase (Decrease) in Cash

Issuance
2031 Notes	January 12, 2024	$	1,000	$	993	$	993
Prepayments
2024 Term Loan A	January 12, 2024	(588)		(587)		(588)
2025 Term Loan A	January 12, 2024	(402)		(401)		(402)
2025 Term Loan A	May 29, 2024	(650)		(649)		(650)
		$	(640)	$	(644)	$	(647)

2031 Notes

On January 12, 2024, we issued $1.00 billion principal amount of senior unsecured 2031 Notes in a public offering. The 2031 Notes bear interest at a rate of 5.300% per year and will mature on January 15, 2031. Issuance costs and debt discount for the 2031 Notes were $7 million.

We may redeem the 2031 Notes, in whole or in part, at our option prior to their maturity dates at a redemption price equal to the greater of (i) 100% of the principal amount of the notes to be redeemed and (ii) the present value of the remaining scheduled payments of principal and interest, plus accrued interest in each case. We may also redeem the 2031 Notes, in whole or in part, at a price equal to par two months prior to maturity in accordance with the terms of the 2031 Notes.

The 2031 Notes contain covenants that, among other things, limit, in certain circumstances, our ability and/or the ability of our restricted subsidiaries (which are generally domestic subsidiaries in which we own at least 80% of the voting stock and which own principal property, as defined in the indenture governing the 2031 Notes) to (1) create or incur certain liens; (2) enter into certain sale and lease-back transactions; and (3) consolidate with or merge with or into, or convey, transfer, or lease all or substantially all of our properties and assets, to another entity. These covenants are subject to a number of limitations and exceptions. Additionally, if a change of control triggering event occurs, as defined in the indenture governing the 2031 Notes, we will be required to offer to purchase the 2031 Notes at 101% of the outstanding aggregate principal amount plus accrued interest up to the purchase date.

Revolving Credit Facility

As of May 30, 2024, no amounts were outstanding under the Revolving Credit Facility and $2.50 billion was available to us. Under the Revolving Credit Facility, borrowings would generally bear interest at a rate equal to adjusted term SOFR plus 1.00% to 1.75%, depending on our corporate credit ratings. Adjusted term SOFR for the Revolving Credit Facility agreement is the SOFR benchmark plus a credit spread adjustment ranging from approximately 0.11% to 0.43% depending on the applicable interest period selected. Any amounts outstanding under the Revolving Credit Facility would mature in May 2026 and amounts borrowed may be prepaid without penalty.

The Revolving Credit Facility requires us to maintain, on a consolidated basis, a leverage ratio of total indebtedness to adjusted EBITDA, as defined in the Revolving Credit Facility and calculated as of the last day of each fiscal quarter, not to exceed 3.25 to 1.00. On March 27, 2023, we amended the Revolving Credit Facility to provide that in lieu of the foregoing leverage ratio, during the fourth quarter of 2023 and each quarter of 2024, we will be required to maintain, on a consolidated basis, a net leverage ratio of total net indebtedness to adjusted EBITDA, as defined in the Revolving Credit Facility and calculated as of the last day of each fiscal quarter, not to exceed 3.25 to 1.00. Alternatively, for up to three of such five quarters, we may elect to comply with a requirement of minimum liquidity, as defined in the Revolving Credit Facility, of not less than $5.0 billion. Each of the leverage ratio and net leverage ratio maximums, as applicable, is subject to a temporary four quarter increase in such ratio to 3.75 to 1.00 following certain material acquisitions. Through the third quarter of 2024, we complied with these requirements under the Revolving Credit Facility.

Maturities of Notes Payable

As of May 30, 2024, maturities of notes payable by fiscal year were as follows:


Remainder of 2024	$	27
2025	107
2026	607
2027	1,780
2028	1,493
2029 and thereafter	7,450
Unamortized issuance costs, discounts, and premium, net	(34)
Hedge accounting fair value adjustment	(98)
	$	11,332

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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