Item 6. SELECTED FINANCIAL DATA

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Item 6. SELECTED FINANCIAL DATA


	2020		2019		2018		2017		2016
	(in millions, except per share amounts)

Revenue	$	21,435	$	23,406	$	30,391	$	20,322	$	12,399
Gross margin	6,552		10,702		17,891		8,436		2,505
Operating income	3,003		7,376		14,994		5,868		168
Net income (loss)	2,710		6,358		14,138		5,090		(275)
Net income (loss) attributable to Micron	2,687		6,313		14,135		5,089		(276)
Diluted earnings (loss) per share	2.37		5.51		11.51		4.41		(0.27)

Cash and short-term investments	8,142		7,955		6,802		5,428		4,398
Total current assets	17,965		16,503		16,039		12,457		9,495
Property, plant, and equipment	31,031		28,240		23,672		19,431		14,686
Total assets	53,678		48,887		43,376		35,336		27,540
Total current liabilities	6,635		6,390		5,754		5,334		4,835
Long-term debt	6,373		4,541		3,777		9,872		9,154
Total Micron shareholders’ equity	38,996		35,881		32,294		18,621		12,080
Noncontrolling interests in subsidiaries	—		889		870		849		848
Total equity	38,996		36,770		33,164		19,470		12,928

On October 31, 2019, we purchased Intel’s noncontrolling interest in IMFT, now known as MTU, and IMFT Member Debt for $1.25 billion. See “Item 8. Financial Statements and Supplementary Data – Notes to Consolidated Financial Statements – Debt” and “– Equity.”

In December 2016, we acquired the 67% remaining interest in Inotera and began consolidating Inotera's operating results. In the periods presented above through December 2016, Inotera sold DRAM 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.

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