Crucial 2013 Annual Report Download - page 36

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ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
As used herein, "we," "our," "us" and similar terms include Micron Technology, Inc. and its subsidiaries, unless the context
indicates otherwise. The following discussion contains trend information and other forward-looking statements that involve a
number of risks and uncertainties. Forward-looking statements include, but are not limited to, statements such as those made
in "Overview" regarding Elpida's wafer production and expectations related to Elpida's future cash flows; "Operating Results
by Business Segment" regarding increases in sales of mobile DRAM for 2014 as a result of our acquisition of Elpida; in
"Operating Results by Product" regarding the timing and effect of the transition of our Singapore DRAM facility to NAND
Flash production, our increases in DRAM sales for 2014 as a result of our acquisition of Elpida and the effect of Elpida
inventory adjustments in acquisition accounting on cost of sales in the first quarter of 2014; in "Selling, General and
Administrative" regarding SG&A costs for the first quarter of 2014; in "Research and Development" regarding R&D costs for
the first quarter of 2014; in "Liquidity and Capital Resources" regarding the sufficiency of our cash and investments, cash
flows from operations and available financing to meet our requirements at least through 2014, regarding our pursuit of
additional financing and capital spending in 2014, the timing of payments for certain contractual obligations, the timing of
payments in connection with the Elpida transactions and conversions of our convertible notes; and in "Recently Issued
Accounting Standards" regarding the impact of recently issued accounting pronouncements. Our actual results could differ
materially from our historical results and those discussed in the forward-looking statements. Factors that could cause actual
results to differ materially include, but are not limited to, those identified in "Item 1A. Risk Factors." This discussion should
be read in conjunction with the Consolidated Financial Statements and accompanying notes for the year ended August 29,
2013. All period references are to our fiscal periods unless otherwise indicated. Our fiscal year is the 52 or 53-week period
ending on the Thursday closest to August 31 and fiscal 2013, 2012 and 2011 each contained 52 weeks. All production data
includes the production of our consolidated joint ventures and our other partnering arrangements. All tabular dollar amounts
are in millions.
Our Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A") is provided in
addition to the accompanying consolidated financial statements and notes to assist readers in understanding our results of
operations, financial condition and cash flows. MD&A is organized as follows:
• Overview: Highlights of key transactions and events.
• Results of Operations: An analysis of our financial results consisting of the following:
Consolidated results;
Operating results by business segment;
Operating results by product; and
Operating expenses and other.
• Liquidity and Capital Resources: An analysis of changes in our balance sheet and cash flows and discussion of our
financial condition and potential sources of liquidity.
• Off-Balance Sheet Arrangements: Contingent liabilities, commitments and off-balance sheet arrangements.
• Critical Accounting Estimates: Accounting estimates that we believe are most important to understanding the
assumptions and judgments incorporated in our reported financial results and forecasts. Also includes changes in
accounting standards.