Crucial 2014 Annual Report Download - page 98

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96
2013 Fourth
Quarter Third
Quarter Second
Quarter First
Quarter
Net sales $ 2,843 $ 2,318 $ 2,078 $ 1,834
Gross margin 708 556 366 217
Operating income (loss) 207 149 (23)(97)
Net income (loss) 1,710 43 (284)(275)
Net income (loss) attributable to Micron 1,708 43 (286)(275)
Earnings (loss) per share:
Basic $ 1.65 $ 0.04 $ (0.28) $ (0.27)
Diluted 1.51 0.04 (0.28)(0.27)
The results of operations for the fourth quarter of 2013 included a gain of $1.48 billion for the MMJ Acquisition. The
fourth quarter of 2013 includes the MMJ Group's results of operation from the July 31, 2013 acquisition date. (See "Micron
Memory Japan, Inc." note.)
The results of operations for the fourth quarter of 2013 included a gain of $48 million from the issuance of shares by
Inotera, which reduced our ownership interest from 40% to 35%. (See "Equity Method Investments – Inotera" note.)
The results of operations for the fourth, third, second and first quarters of 2013 included losses of $3 million, $47 million,
$120 million and $58 million, respectively, for the MMJ Acquisition Hedges. (See "Derivative Instruments – Derivative
Instruments without Hedge Accounting Designation" note.)
In 2013 we took action to dispose of 200mm wafer manufacturing facilities and optimize operations including our
workforce. The results of operations for the fourth, third and second quarters of 2013 include charges of $32 million, $55
million and $60 million, respectively, for the restructure and asset impairments. The results of operations for the first quarter of
2013 included a credit of $21 million for restructure activities. (See "Restructure and Asset Impairments" note.)
The results of operations in the second quarter of 2013 included a loss of $31 million on extinguishment of debt. (See
"Debt – 2013 Debt Restructure" note.)