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Equity Method Investments (Tables) | 12 Months Ended
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Sep. 01, 2016
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Equity Method Investments |
As of |  | 2016 |  | 2015
|  | Investment Balance |  | Ownership Percentage |  | Investment Balance |  | Ownership Percentage
Inotera |  | $ | 1,314 |  |  | 33 | % |  | $ | 1,332 |  |  | 33 | %
Tera Probe |  | 36 |  |  | 40 | % |  | 38 |  |  | 40 | %
Other |  | 14 |  |  | Various |  |  | 9 |  |  | Various |
|  | $ | 1,364 |  |  |  |  |  | $ | 1,379 |  |  |  |
As of September 1, 2016, substantially all of our maximum exposure to loss from our VIEs that were not consolidated was the $1.31 billion carrying value of our investment in Inotera. We may also incur losses in connection with our rights and obligations to purchase all of Inotera's wafer production capacity under our supply agreement with Inotera. We recognize our share of earnings or losses from our equity method investees generally on a two-month lag. Included in our share of earnings for 2015 was $49 million related to Inotera's full release of its valuation allowance against net deferred tax assets related to its net operating loss carryforward and the resulting tax provision in subsequent periods. Equity in net income (loss) of equity method investees, net of tax, included the following:
For the year ended |  | 2016 |  | 2015 |  | 2014
Inotera |  | $ | 32 |  |  | $ | 445 |  |  | $ | 465 |
Tera Probe |  | (11 | ) |  | 1 |  |  | 11 |
Other |  | 4 |  |  | 1 |  |  | (2 | )
|  | $ | 25 |  |  | $ | 447 |  |  | $ | 474 |
The summarized financial information in the tables below reflects aggregate amounts for our equity method investees. Financial information is presented for equity method investments as of the respective dates and for the periods through which we recorded our proportionate share of each investee's results of operations. Summarized results of operations are presented only for the periods subsequent to the acquisition, or through the disposition of, our ownership interests.
As of |  | 2016 |  | 2015
Current assets |  | $ | 1,222 |  |  | $ | 1,980 |
Noncurrent assets |  | 4,294 |  |  | 3,038 |
Current liabilities |  | 604 |  |  | 436 |
Noncurrent liabilities |  | 411 |  |  | 119 |
For the year ended |  | 2016 |  | 2015 |  | 2014
Net sales |  | $ | 1,671 |  |  | $ | 2,647 |  |  | $ | 3,382 |
Gross margin |  | 155 |  |  | 1,253 |  |  | 1,576 |
Operating income |  | 199 |  |  | 1,191 |  |  | 1,371 |
Net income |  | 184 |  |  | 1,361 |  |  | 1,339 |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66011266&loc=d3e33918-111571 + Details
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