Quarterly Financial Information (Unaudited)

(in millions except per share amounts)



2015	Fourth Quarter		Third Quarter		Second Quarter		First Quarter
Net sales	$	3,600	$	3,853	$	4,166	$	4,573
Gross margin	970		1,202		1,405		1,638
Operating income	427		631		855		1,085
Net income	471		491		935		1,002
Net income attributable to Micron	471		491		934		1,003

Earnings per share:
Basic	$	0.44	$	0.46	$	0.87	$	0.94
Diluted	0.42		0.42		0.78		0.84

Results of operations in the fourth, third, and first quarters of 2015 included losses of $1 million, $18 million, and $30 million, respectively, for losses on restructure of debt.



2014	Fourth Quarter		Third Quarter		Second Quarter		First Quarter
Net sales	$	4,227	$	3,982	$	4,107	$	4,042
Gross margin	1,385		1,368		1,403		1,281
Operating income	828		839		869		551
Net income	1,151		806		741		381
Net income attributable to Micron	1,150		806		731		358

Earnings per share:
Basic	$	1.08	$	0.76	$	0.69	$	0.34
Diluted	0.96		0.68		0.61		0.30

Results of operations for the first quarter of 2014 included a $233 million charge to accrue a liability for the settlement of all pending litigation between us and Rambus, including all antitrust and patent matters, which reflects the discounted value of amounts due under the arrangement.

Results of operations in the fourth, third, second, and first quarters of 2014 included losses of $17 million, $16 million, $80 million, and $92 million, respectively, for losses on restructure of debt.

Results of operations for the fourth quarter of 2014 included a gain of $93 million from the issuance of shares by Inotera, which reduced our ownership interest from 35% to 33%. (See "Equity Method Investments – Inotera" note.)

Results of operations for the fourth quarter of 2014 included a gain of $119 million from the sale of interest in Aptina to ON Semiconductor Corporation. (See "Equity Method Investments – Other" note.)

Results of operations for the fourth quarter of 2014 included a $66 million charge associated with a license agreement with Tessera executed in the fourth quarter of 2014.