Crucial 2014 Annual Report Download - page 80
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78
Accumulated Other Comprehensive Income (Loss)
Changes in accumulated other comprehensive income (loss) by component for the year ended August 28, 2014, 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 29, 2013 $ 44 $ 21 $ — $ (2) $ 63
Other comprehensive income before
reclassifications 1(4) 4 1 2
Amount reclassified out of accumulated
other comprehensive income (3) (4)(3) 1 (9)
Tax effects — (1) — 1 —
Other comprehensive income (loss) (2) (9) 1 3 (7)
Balance as of August 28, 2014 $ 42 $ 12 $ 1 $ 1 $ 56
Noncontrolling Interests in Subsidiaries
As of 2014 2013
Noncontrolling
Interest
Balance
Noncontrolling
Interest
Percentage
Noncontrolling
Interest
Balance
Noncontrolling
Interest
Percentage
IMFT(1) $ 693 49% $ 601 49%
MP Mask(1) 93 50% 92 50%
MMT 9 <l% 155 11%
Other 7 Various 16 Various
$ 802 $ 864
(1) Entity is a variable interest entity.
IMFT
Since inception in 2006 through August 28, 2014, we have owned 51% of IMFT, a venture between us and Intel to
manufacture NAND Flash memory products and certain emerging memory technologies for the exclusive use of the members.
IMFT is governed by a Board of Managers and the number of managers appointed by each member to the board varies based
on the members' respective ownership interests, which is based on cumulative contributions to IMFT. The IMFT joint venture
agreement extends through 2024 and includes certain buy-sell rights with an Intel put right, commencing in January 2015, and
our call right commencing in January 2018, pursuant to which Intel may elect to sell to us, or we may elect to purchase from
Intel, Intel's interest in IMFT. If Intel elects to sell to us, we would set the closing date of the transaction within two years
following such election and could 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 $137 million, $127 million and $87 million
for 2014, 2013 and 2012, respectively.
We sell a portion of our products to Intel through our IMFT venture at long-term negotiated prices approximating cost.
Sales of NAND Flash products to Intel under this arrangement were $423 million, $387 million and $718 million for 2014,
2013 and 2012, respectively. Receivables from Intel for sales of NAND Flash products as of August 28, 2014 and August 29,
2013, were $66 million and $68 million, respectively.