v2.4.1.9

Equity | 6 Months Ended
--- | ---
Mar. 05, 2015
Equity [Abstract] |
Equity | Equity Changes in the components of equity were as follows:
|  | Six Months Ended March 5, 2015 |  | Six Months Ended February 27, 2014
|  | Attributable to Micron |  | Noncontrolling Interests |  | Total Equity |  | Attributable to Micron |  | Noncontrolling Interests |  | Total Equity
Beginning balance |  | $ | 10,771 |  |  | $ | 802 |  |  | $ | 11,573 |  |  | $ | 9,142 |  |  | $ | 864 |  |  | $ | 10,006 |
Net income |  | 1,937 |  |  | — |  |  | 1,937 |  |  | 1,089 |  |  | 33 |  |  | 1,122 |
Other comprehensive income (loss) |  | (74 | ) |  | (1 | ) |  | (75 | ) |  | (4 | ) |  | — |  |  | (4 | )
Comprehensive income (loss) |  | 1,863 |  |  | (1 | ) |  | 1,862 |  |  | 1,085 |  |  | 33 |  |  | 1,118 |
Contributions from noncontrolling interests |  | — |  |  | 20 |  |  | 20 |  |  | — |  |  | 49 |  |  | 49 |
Distributions to noncontrolling interests |  | — |  |  | (6 | ) |  | (6 | ) |  | — |  |  | (19 | ) |  | (19 | )
Acquisition of noncontrolling interests in MMT |  | — |  |  | — |  |  | — |  |  | 31 |  |  | (167 | ) |  | (136 | )
Capital and other transactions attributable to Micron |  | (208 | ) |  | — |  |  | (208 | ) |  | (974 | ) |  | — |  |  | (974 | )
Ending balance |  | $ | 12,426 |  |  | $ | 815 |  |  | $ | 13,241 |  |  | $ | 9,284 |  |  | $ | 760 |  |  | $ | 10,044 |
Micron Shareholders' Equity Common Stock Repurchases Our Board of Directors has authorized the repurchase of up to $1.00 billion of our outstanding common stock. Any repurchases under the authorization may be made in open market purchases, block trades, privately negotiated transactions, and/or derivative transactions. Repurchases are subject to market conditions and our ongoing determination of the best use of available cash. During the second quarter of 2015, we repurchased 7 million shares for $192 million through open market transactions. As of March 5, 2015, the repurchased shares were held as treasury stock and $808 million of the authorization remained available for future stock repurchases. Employees can elect to have shares withheld for taxes or exercise prices upon the release of restricted awards or exercise of stock options. We repurchased and retired 2 million and 4 million shares of our common stock in the first six months of 2015 and 2014, respectively, and paid $52 million and $73 million, respectively, for taxes and exercise prices. Issued and Outstanding Capped Calls We have capped calls (with strike prices that range from $9.50 to $10.93 and cap prices that range from $12.67 to $16.04), which are intended to reduce the effect of potential dilution from our convertible notes. These capped calls provide for the receipt of cash or shares, at our election, from counterparties if the trading price of our stock is above the specified initial strike prices on various dates ranging from July 2015 to February 2020, the expiration dates of the capped calls. The cash value received would be based on the trading price of our stock and would range from $0 (if the trading price of our stock is below the initial strike prices for all of the capped calls on each expiration date) to $864 million (if the trading price of our stock is at or above the cap prices for all of the capped calls on each expiration date). Restrictions on Net Assets As a result of the reorganization proceedings of the MMJ Companies initiated on March 23, 2012, and for so long as such proceedings are continuing, the MMJ Group is subject to certain restrictions on dividends, loans, and advances. In addition, our ability to access IMFT's cash and other assets through dividends, loans, or advances, including to finance our other operations, is subject to agreement by Intel. As a result, our total restricted net assets (net assets less intercompany balances and noncontrolling interests) as of March 5, 2015 were $3.11 billion for the MMJ Group, which included cash and equivalents of $1.32 billion, and $788 million for IMFT. Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss) by component for the first six months of 2015 were as follows:
|  | Cumulative Foreign Currency Translation Adjustments |  | Gains (Losses) on Derivative Instruments, Net |  | Gains (Losses) on Investments, Net |  | Pension Liability Adjustments |  | Total
Balance as of August 28, 2014 |  | $ | 42 |  |  | $ | 12 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 56 |
Other comprehensive income before reclassifications |  | (74 | ) |  | (14 | ) |  | (1 | ) |  | 30 |  |  | (59 | )
Amount reclassified out of accumulated other comprehensive income |  | — |  |  | (4 | ) |  | — |  |  | (1 | ) |  | (5 | )
Tax effects |  | — |  |  | 1 |  |  | — |  |  | (11 | ) |  | (10 | )
Other comprehensive income (loss) |  | (74 | ) |  | (17 | ) |  | (1 | ) |  | 18 |  |  | (74 | )
Balance as of March 5, 2015 |  | $ | (32 | ) |  | $ | (5 | ) |  | $ | — |  |  | $ | 19 |  |  | $ | (18 | )
Noncontrolling Interests in Subsidiaries
|  | March 5, 2015 |  | August 28, 2014
|  | Noncontrolling Interest Balance |  | Noncontrolling Interest Percentage |  | Noncontrolling Interest Balance |  | Noncontrolling Interest Percentage
IMFT(1) |  | $ | 707 |  |  | 49 | % |  | $ | 693 |  |  | 49 | %
MP Mask(1) |  | 93 |  |  | 50 | % |  | 93 |  |  | 50 | %
Other |  | 15 |  |  | Various |  |  | 16 |  |  | Various |
|  | $ | 815 |  |  |  |  | $ | 802 |  |  |
(1) | Entity is a variable interest entity.
IMFT Since its inception in 2006, we have owned 51% of IMFT, a venture between us and Intel to manufacture NAND Flash memory products and certain emerging memory technologies exclusively for the members. IMFT is governed by a Board of Managers, for which the number of managers appointed by each member varies based on the members' respective ownership interests. The IMFT joint venture agreement extends through 2024 and includes certain buy-sell rights. Commencing in January 2015, Intel can put to us, and commencing in January 2018, we can call from Intel, Intel's interest in IMFT for an amount equal to the noncontrolling interest balance for Intel. If Intel elects to sell to us, we can elect to set the closing date of the transaction to be any time within two years following such election by Intel and can elect to receive financing of the purchase price from Intel for one to two years from the closing date. IMFT manufactures NAND Flash memory products using designs and technology we develop with Intel. We generally share with Intel the costs of product design, other NAND Flash R&D costs, and R&D costs of certain emerging memory technologies. Our R&D expenses were reduced by reimbursements from Intel of $46 million and $100 million for the second quarter and first six months of 2015, respectively, and $35 million and $64 million for the second quarter and first six months of 2014, respectively. We sell a portion of our products to Intel through IMFT at long-term negotiated prices approximating cost. Sales of NAND Flash products to Intel under this arrangement were $100 million and $208 million for the second quarter and first six months of 2015, respectively, and $104 million and $205 million for the second quarter and first six months of 2014, respectively. Receivables from Intel as of March 5, 2015 and August 28, 2014, were $61 million and $66 million, respectively for these sales. The following table presents the assets and liabilities of IMFT included in our consolidated balance sheets:
|  | March 5, 2015 |  | August 28, 2014
Assets |  |  |  |
Cash and equivalents |  | $ | 115 |  |  | $ | 84 |
Receivables |  | 72 |  |  | 73 |
Inventories |  | 51 |  |  | 48 |
Other current assets |  | 5 |  |  | 5 |
Total current assets |  | 243 |  |  | 210 |
Property, plant and equipment, net |  | 1,506 |  |  | 1,545 |
Other noncurrent assets |  | 42 |  |  | 47 |
Total assets |  | $ | 1,791 |  |  | $ | 1,802 |
Liabilities |  |  |  |
Accounts payable and accrued expenses |  | $ | 102 |  |  | $ | 106 |
Deferred income |  | 8 |  |  | 8 |
Current debt |  | 21 |  |  | 21 |
Total current liabilities |  | 131 |  |  | 135 |
Long-term debt |  | 60 |  |  | 71 |
Other noncurrent liabilities |  | 105 |  |  | 110 |
Total liabilities |  | $ | 296 |  |  | $ | 316 |
Amounts exclude intercompany balances that were eliminated in our consolidated balance sheets. Creditors of IMFT have recourse only to its assets and do not have recourse to any other of our assets. The following table presents IMFT's distributions to and contributions from its members:
|  | Quarter Ended |  | Six Months Ended
|  | March 5, 2015 |  | February 27, 2014 |  | March 5, 2015 |  | February 27, 2014
IMFT distributions to Micron |  | $ | — |  |  | $ | 10 |  |  | $ | 6 |  |  | $ | 10 |
IMFT distributions to Intel |  | — |  |  | 10 |  |  | 6 |  |  | 10 |
Micron contributions to IMFT |  | — |  |  | — |  |  | 21 |  |  | 51 |
Intel contributions to IMFT |  | — |  |  | — |  |  | 20 |  |  | 49 |
MP Mask In 2006, we formed a joint venture with Photronics to produce photomasks for leading-edge and advanced next-generation semiconductors. In the third quarter of 2015, we notified Photronics of our election to terminate MP Mask effective in May 2016. Upon termination, we will acquire Photronics' interest in MP Mask for an amount equal to the noncontrolling interest balance. Since its inception, we have owned approximately 50% and Photronics has owned approximately 50% of MP Mask. We purchase a substantial majority of the photomasks produced by MP Mask pursuant to a supply arrangement. The assets and liabilities of MP Mask included in our consolidated balance sheets were as follows:
|  | March 5, 2015 |  | August 28, 2014
Current assets |  | $ | 21 |  |  | $ | 24 |
Noncurrent assets (primarily property, plant and equipment) |  | 194 |  |  | 203 |
Current liabilities |  | 34 |  |  | 28 |
Noncurrent liabilities |  | — |  |  | 14 |
Amounts exclude intercompany balances that were eliminated in our consolidated balance sheets. Creditors of MP Mask have recourse only to its assets and do not have recourse to any other of our assets.

X
- Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph d -Article 4 Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration