Item 6. SELECTED FINANCIAL DATA
4K characters. Original on sec.gov · Markdown
Item 6. SELECTED FINANCIAL DATA
| 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||
| (in millions except per share amounts) | ||||||||||||||||||||
| Net sales | $ | 20,322 | $ | 12,399 | $ | 16,192 | $ | 16,358 | $ | 9,073 | ||||||||||
| Gross margin | 8,436 | 2,505 | 5,215 | 5,437 | 1,847 | |||||||||||||||
| Operating income | 5,868 | 168 | 2,998 | 3,087 | 236 | |||||||||||||||
| Net income (loss) | 5,090 | (275 | ) | 2,899 | 3,079 | 1,194 | ||||||||||||||
| Net income (loss) attributable to Micron | 5,089 | (276 | ) | 2,899 | 3,045 | 1,190 | ||||||||||||||
| Diluted earnings (loss) per share | 4.41 | (0.27 | ) | 2.47 | 2.54 | 1.13 | ||||||||||||||
| Cash and short-term investments | 5,428 | 4,398 | 3,521 | 4,534 | 3,101 | |||||||||||||||
| Total current assets | 12,457 | 9,495 | 8,596 | 10,245 | 8,911 | |||||||||||||||
| Property, plant, and equipment, net | 19,431 | 14,686 | 10,554 | 8,682 | 7,626 | |||||||||||||||
| Total assets | 35,336 | 27,540 | 24,143 | 22,416 | 19,068 | |||||||||||||||
| Total current liabilities | 5,334 | 4,835 | 3,905 | 4,791 | 4,122 | |||||||||||||||
| Long-term debt | 9,872 | 9,154 | 6,252 | 4,893 | 4,406 | |||||||||||||||
| Redeemable convertible notes | 21 | — | 49 | 68 | — | |||||||||||||||
| Total Micron shareholders’ equity | 18,621 | 12,080 | 12,302 | 10,760 | 9,142 | |||||||||||||||
| Noncontrolling interests in subsidiaries | 849 | 848 | 937 | 802 | 864 | |||||||||||||||
| Total equity | 19,470 | 12,928 | 13,239 | 11,562 | 10,006 |
Through December 6, 2016, we held a 33% ownership interest in Inotera (now known as MTTW), Nanya and certain of its affiliates held a 32% ownership interest, and the remaining ownership interest was publicly held. On December 6, 2016, we acquired the 67% remaining interest in Inotera and began consolidating Inotera's operating results. Inotera manufactures DRAM products at its 300mm wafer fabrication facility in Taoyuan City, Taiwan, and previously sold such products exclusively to us through supply agreements. The cash paid for the Inotera Acquisition was funded, in part, with a term loan of 80 billion New Taiwan dollars and $986 million from the sale of 58 million shares of our common stock.
On July 31, 2013, we completed the MMJ acquisition, in which we acquired Elpida, now known as MMJ, and a controlling interest in Rexchip Electronics Corporation, now known as MMT. The MMJ Group's products include mobile DRAM targeted to mobile phones and tablets and computing DRAM targeted to desktop PCs, servers, notebooks, and workstations. The MMJ acquisition included a 300mm DRAM wafer fabrication facility located in Hiroshima, Japan, a 300mm DRAM wafer fabrication facility in Taichung City, Taiwan, and an assembly and test facility located in Akita, Japan. We recorded a gain on the transaction of $1.48 billion in 2013.
Previous: Item 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES · Next: Item 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS