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1
PART I
ITEM 1. BUSINESS
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 "Products"
regarding increased sales of DDR4 products, growth in demand for NAND Flash products and SSDs, and production of 3D
NAND Flash and 3D XPoint™ memory, and in "Manufacturing" regarding the transition to smaller line-width process
technologies and 3D NAND Flash. 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." All period references are to our fiscal periods unless otherwise indicated.
Corporate Information
Micron, a Delaware corporation, was incorporated in 1978. Our executive offices are located at 8000 South Federal Way,
Boise, Idaho 83716-9632 and our telephone number is (208) 368-4000. Information about us is available on the internet at
www.micron.com. Copies of our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on
Form 8-K, as well as any amendments to these reports, are available through our website as soon as reasonably practicable after
they are electronically filed with or furnished to the SEC. Materials filed or furnished by us with the SEC are also available at
the SEC's Public Reference Room at 100 F Street, NE, Washington, D.C. 20549. Information on the operation of the Public
Reference Room is available by calling (800) SEC-0330. Also available on our website are our: Corporate Governance
Guidelines, Governance Committee Charter, Compensation Committee Charter, Audit Committee Charter, and Code of
Business Conduct and Ethics. Any amendments or waivers of our Code of Business Conduct and Ethics will also be posted on
our website at www.micron.com within four business days of the amendment or waiver. Copies of these documents are
available to shareholders upon request. Information contained or referenced on our website is not incorporated by reference
and does not form a part of this Annual Report on Form 10-K.
Overview
Micron Technology, Inc., including its consolidated subsidiaries, is a global leader in advanced semiconductor systems.
Our broad portfolio of high-performance memory technologies, including DRAM, NAND Flash, and NOR Flash, is the basis
for solid-state drives, modules, multi-chip packages, and other system solutions. Our memory solutions enable the world's
most innovative computing, consumer, enterprise storage, networking, mobile, embedded, and automotive applications. We
market our products through our internal sales force, independent sales representatives, and distributors primarily to OEMs and
retailers located around the world. Our success is largely dependent on the market acceptance of our diversified portfolio of
semiconductor products, efficient utilization of our manufacturing infrastructure, successful ongoing development of advanced
product and process technologies, and generating a return on R&D investments.
We obtain products for sale to our customers from our wholly-owned manufacturing facilities and our joint ventures. In
recent years, we have increased our manufacturing scale and product diversity through strategic acquisitions and various
partnering arrangements.
We make significant investments to develop the proprietary product and process technologies that are implemented in our
worldwide manufacturing facilities and through our joint ventures. These investments enable our production of semiconductor
products with increasing functionality and performance at lower costs. We generally reduce the manufacturing cost of each
generation of product through advancements in product and process technologies, such as our leading-edge line-width process
technology. We continue to introduce new generations of products that offer improved performance characteristics, including
higher data transfer rates, reduced package size, lower power consumption, improved read/write reliability, and increased
memory density. To leverage our significant investments in R&D, we have formed, and may continue to form, strategic joint
ventures that allow us to share the costs of developing memory product and process technologies with joint venture partners. In
addition, from time to time, we also sell and/or license technology to other parties. We continue to pursue additional
opportunities to monetize our investment in intellectual property through partnering and other arrangements.