MICRON TECHNOLOGY INC
For the period ended Nov 27, 2025. Filed Dec 18, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Nov 27, 2025 · Filed Dec 18, 2025
MU$725.11-1.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
(In millions)
| Three months ended | November 27,2025 | November 28,2024 |
|---|---|---|
| Cash flows from operating activities | ||
| Net income | $5,240 | $1,870 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation expense and amortization of intangible assets | 2,212 | 2,030 |
| Stock-based compensation | 290 | 220 |
| Change in operating assets and liabilities: | ||
| Receivables | (871) | (817) |
| Inventories | 150 | 170 |
| Accounts payable and accrued expenses | 156 | (241) |
| Other current liabilities | 449 | (161) |
| Other noncurrent liabilities | 547 | 132 |
| Other | 238 | 41 |
| Net cash provided by operating activities | 8,411 | 3,244 |
| Cash flows from investing activities | ||
| Expenditures for property, plant, and equipment | (5,389) | (3,206) |
| Purchases of available-for-sale securities | (255) | (377) |
| Proceeds from government incentives | 878 | 65 |
| Proceeds from maturities and sales of available-for-sale securities | 268 | 428 |
| Other | (96) | (58) |
| Net cash used for investing activities | (4,594) | (3,148) |
| Cash flows from financing activities | ||
| Repayments of debt | (2,943) | (84) |
| Repurchases of common stock - withholdings on employee equity awards | (367) | (207) |
| Repurchases of common stock - repurchase program | (300) | — |
| Payments of dividends to shareholders | (134) | (131) |
| Other | (1) | — |
| Net cash used for financing activities | (3,745) | (422) |
| Effect of changes in currency exchange rates on cash, cash equivalents, and restricted cash | 14 | (29) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 86 | (355) |
| Cash, cash equivalents, and restricted cash at beginning of period | 9,646 | 7,052 |
| Cash, cash equivalents, and restricted cash at end of period | $9,732 | $6,697 |
9 | 2026 Q1 10-Q
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