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Micron Technology Inc. – ‘10-Q’ for 3/4/21 – ‘EX-18’

On:  Thursday, 4/1/21, at 1:49pm ET   ·   For:  3/4/21   ·   Accession #:  723125-21-32   ·   File #:  1-10658

Previous ‘10-Q’:  ‘10-Q’ on 1/8/21 for 12/3/20   ·   Next:  ‘10-Q’ on 7/1/21 for 6/3/21   ·   Latest:  ‘10-Q’ on 3/21/24 for 2/29/24   ·   4 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size

 4/01/21  Micron Technology Inc.            10-Q        3/04/21   92:12M

Quarterly Report   —   Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    973K 
 2: EX-10.15    EX-10.15 Deferred Compensation Plan                 HTML    109K 
 3: EX-18       EX-18 Pwc Preferability Letter                      HTML     25K 
 4: EX-31.1     2021 Q2 EX-31.1 - CEO Cert.                         HTML     27K 
 5: EX-31.2     2021 Q2 EX-31.2 - CFO Cert.                         HTML     27K 
 6: EX-32.1     2021 Q2 EX-32.1 - 906 CEO Cert.                     HTML     23K 
 7: EX-32.2     2021 Q2 EX-32.2 - 906 CFO Cert.                     HTML     23K 
14: R1          Cover Page                                          HTML     75K 
15: R2          Consolidated Statements of Operations               HTML    105K 
16: R3          Consolidated Statements of Comprehensive Income     HTML     60K 
17: R4          Consolidated Balance Sheets                         HTML    118K 
18: R5          Consolidated Balance Sheets (Parenthetical)         HTML     33K 
19: R6          Statement of Changes in Equity                      HTML    108K 
20: R7          Consolidated Statements of Cash Flows               HTML    100K 
21: R8          Significant Accounting Policies                     HTML     30K 
22: R9          Recently Adopted Accounting Standards               HTML     34K 
23: R10         Recently Issued Accounting Standards                HTML     26K 
24: R11         Cash and Investments                                HTML     64K 
25: R12         Receivables                                         HTML     30K 
26: R13         Inventories                                         HTML     32K 
27: R14         Assets Held for Sale                                HTML     26K 
28: R15         Property, Plant, and Equipment                      HTML     36K 
29: R16         Intangible Assets and Goodwill                      HTML     31K 
30: R17         Leases                                              HTML    103K 
31: R18         Accounts Payable and Accrued Expenses               HTML     32K 
32: R19         Debt                                                HTML     69K 
33: R20         Contingencies                                       HTML     46K 
34: R21         Equity                                              HTML     43K 
35: R22         Fair Value Measurements                             HTML     34K 
36: R23         Derivative Instruments                              HTML     44K 
37: R24         Equity Plans                                        HTML     63K 
38: R25         Revenue and Customer Contract Liabilities           HTML     46K 
39: R26         Other Operating (Income) Expenses, Net              HTML     34K 
40: R27         Other Non-Operating Income (Expense), Net           HTML     34K 
41: R28         Income Taxes                                        HTML     37K 
42: R29         Earnings Per Share                                  HTML     45K 
43: R30         Segment and Other Information                       HTML     76K 
44: R31         Significant Accounting Policies (Policies)          HTML     39K 
45: R32         Segment and Other Information (Policies)            HTML     27K 
46: R33         Cash and Investments (Tables)                       HTML    105K 
47: R34         Receivables (Tables)                                HTML     30K 
48: R35         Inventories (Tables)                                HTML     31K 
49: R36         Property, Plant, and Equipment (Tables)             HTML     36K 
50: R37         Intangible Assets and Goodwill (Tables)             HTML     30K 
51: R38         Leases (Tables)                                     HTML     76K 
52: R39         Accounts Payable and Accrued Expenses (Tables)      HTML     32K 
53: R40         Debt (Tables)                                       HTML     68K 
54: R41         Equity (Tables)                                     HTML     41K 
55: R42         Fair Value Measurements (Tables)                    HTML     31K 
56: R43         Derivative Instruments (Tables)                     HTML     42K 
57: R44         Equity Plans (Tables)                               HTML     66K 
58: R45         Revenue and Customer Contract Liabilities (Tables)  HTML     43K 
59: R46         Other Operating (Income) and Expense, Net (Tables)  HTML     34K 
60: R47         Other Non-Operating Income (Expense), Net (Tables)  HTML     34K 
61: R48         Income Taxes (Tables)                               HTML     33K 
62: R49         Earnings Per Share (Tables)                         HTML     44K 
63: R50         Segment and Other Information (Tables)              HTML     69K 
64: R51         Significant Accounting Policies (Details)           HTML     32K 
65: R52         Cash and Investments (Details)                      HTML     78K 
66: R53         Receivables (Details)                               HTML     33K 
67: R54         Inventories (Details)                               HTML     69K 
68: R55         Assets Held for Sale (Details)                      HTML     32K 
69: R56         Property, Plant, and Equipment (Details)            HTML     48K 
70: R57         Intangible Assets and Goodwill (Details)            HTML     49K 
71: R58         Leases (Details)                                    HTML    130K 
72: R59         Accounts Payable and Accrued Expenses (Details)     HTML     36K 
73: R60         Debt - Schedule of Long-term Debt (Details)         HTML    113K 
74: R61         Contingencies (Details)                             HTML    112K 
75: R62         Equity - Accumulated Other Comprehensive Income     HTML     65K 
                (Details)                                                        
76: R63         Fair Value Measurements - Fair and Carrying Value   HTML     30K 
                of Debt (Details)                                                
77: R64         Derivative Instruments - Notional Amounts and Fair  HTML     44K 
                Values (Details)                                                 
78: R65         Derivative Instruments - Gain (Loss) on             HTML     31K 
                Derivatives (Details)                                            
79: R66         Equity Plans - Share Based Awards (Details)         HTML     56K 
80: R67         Equity Plans - Stock-based compensation expense     HTML     53K 
                (Details)                                                        
81: R68         Revenue and Customer Contract Liabilities-Product   HTML     35K 
                Sales (Details)                                                  
82: R69         Revenue and Customer Contract Liabilities-Contract  HTML     35K 
                Liabilities and Customer Payables (Details)                      
83: R70         Revenue and Customer Contract                       HTML     34K 
                Liabilities-Remaining Performance Obligations                    
                (Details)                                                        
84: R71         Other Operating (Income) and Expense, Net           HTML     28K 
                (Details)                                                        
85: R72         Other Non-Operating Income (Expense), Net           HTML     29K 
                (Details)                                                        
86: R73         Income Taxes - Income (loss) before Taxes and       HTML     40K 
                Other Items (Details)                                            
87: R74         Earnings Per Share (Details)                        HTML     61K 
88: R75         Segment and Other Information (Details)             HTML     90K 
90: XML         IDEA XML File -- Filing Summary                      XML    162K 
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10: EX-101.DEF  XBRL Definitions -- mu-20210304_def                  XML    549K 
11: EX-101.LAB  XBRL Labels -- mu-20210304_lab                       XML   1.74M 
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91: JSON        XBRL Instance as JSON Data -- MetaLinks              420±   592K 
92: ZIP         XBRL Zipped Folder -- 0000723125-21-000032-xbrl      Zip   1.36M

‘EX-18’   —   EX-18 Pwc Preferability Letter

This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]

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Exhibit 18

April 1, 2021

Board of Directors
Micron Technology, Inc.
8000 South Federal Way
Post Office Box 6
Boise, ID 83707-0006

Dear Directors:

We are providing this letter to you for inclusion as an exhibit to Micron Technology, Inc.’s (the “Company”) Quarterly Report on Form 10-Q for the period ended March 4, 2021 (the “Form 10-Q”) pursuant to Item 601 of Regulation S-K.

We have been provided a copy of the Company’s Form 10-Q. The Significant Accounting Policies and Inventories notes to the consolidated financial statements therein describe a change in accounting principle from the average cost inventory accounting method to the first-in, first-out (“FIFO”) inventory accounting method and a change in accounting principle in the classification of spare parts for equipment from raw materials inventories to other current assets. It should be understood that the preferability of one acceptable method of accounting over another for determining the cost of inventory or the classification of spare parts has not been addressed in any authoritative accounting literature, and in expressing our concurrence below we have relied on management’s determination that these changes in accounting principle are preferable. Based on our reading of management’s stated reasons and justification for these changes in accounting principle in the Form 10-Q, and our discussions with management as to their judgment about the relevant business planning factors relating to the changes, we concur with management that such changes represent, in the Company’s circumstances, changes to preferable accounting principles in conformity with Accounting Standards Codification 250, Accounting Changes and Error Corrections.

We have not audited any financial statements of the Company as of any date or for any period subsequent to September 3, 2020. Accordingly, our comments are subject to change upon completion of an audit of the financial statements covering the period of the accounting changes.

Very truly yours,


/s/ PricewaterhouseCoopers LLP


San Jose, California

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed on:4/1/21
For Period end:3/4/21
9/3/2010-K,  5
 List all Filings 

2 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

10/08/21  Micron Technology Inc.            10-K        9/02/21  128:44M
 5/05/21  Micron Technology Inc.            S-8         5/05/21    3:1.8M

2 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/16/21  Micron Technology Inc.            8-K:5,9     2/15/21   14:1M
12/01/20  Micron Technology Inc.            DEF 14A     1/14/21    1:28M
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