Summary
Micron Technology, Inc. (MU) filed this Form 8-K on October 10, 2017, primarily to provide revised segment reporting information for its fiscal year ended September 1, 2016. This revision aligns historical segment profitability data with the presentation used in its recent quarterly reports for fiscal year 2017. The company has changed how it allocates certain items when determining segment profitability, which is reviewed by its chief operating decision maker. This filing does not introduce new operational events or financial results occurring after the filing date of the Annual Report on Form 10-K for the year ended September 1, 2016, but rather refines the presentation of historical segment data for consistency.
Key Highlights
- 1Micron is revising historical segment reporting for the fiscal year ended September 1, 2016, to match its current reporting methodology.
- 2The revision involves changes in how certain items are allocated to business segments for profitability assessment.
- 3This 8-K filing is a retrospective adjustment to ensure consistency in segment presentation across filings.
- 4The company is providing updated financial information in Exhibit 99.1 (MD&A) and Exhibit 99.2 (Financial Statements).
- 5This filing does not disclose events or modifications to disclosures made after the original 2016 10-K filing, except for the segment reporting update.
- 6Additional company information is provided in Exhibit 99.4.
Frequently Asked Questions
Micron is filing this 8-K to update and revise its historical segment reporting, specifically for the fiscal year ended September 1, 2016. This is being done to ensure consistency with the segment reporting format and methodology used in their more recent quarterly filings for fiscal year 2017.
The company has revised the measure of segment profitability that is reviewed by its chief operating decision maker. As a result, certain items that were previously allocated to business segments are no longer being allocated in the same way.
No, this 8-K filing primarily concerns a change in reporting presentation. It does not reflect any new events or financial results occurring after the filing date of Micron's Annual Report on Form 10-K for the year ended September 1, 2016. Its purpose is to make historical segment data consistent with current practices.
The revised segment reporting information is presented in several exhibits attached to this 8-K filing, including Exhibit 99.1 (Revised Management's Discussion and Analysis) and Exhibit 99.2 (Revised Financial Statements and Supplementary Data).