MICRON TECHNOLOGY INC - 10-Q filing on 2014-04-07

Fair Value Measurements (Tables)

6 Months Ended

Feb. 27, 2014

Assets measured at fair value on a recurring basis

Assets measured at fair value on a recurring basis were as follows:



As of	February 27, 2014								August 29, 2013
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	1,137	$	—	$	—	$	1,137	$	1,188	$	—	$	—	$	1,188
Certificates of deposit	—		81		—		81		—		38		—		38
Government securities	—		5		—		5		—		—		—		—
Commercial paper	—		—		—		—		—		35		—		35
	1,137		86		—		1,223		1,188		73		—		1,261
Short-term investments:
Corporate bonds	—		124		—		124		—		112		—		112
Government securities	—		39		—		39		—		72		—		72
Commercial paper	—		23		—		23		—		26		—		26
Certificates of deposit	—		10		—		10		—		9		—		9
Asset-backed securities	—		3		—		3		—		2		—		2
	—		199		—		199		—		221		—		221
Long-term marketable investments:
Corporate bonds	—		332		—		332		—		302		—		302
Asset-backed securities	—		120		—		120		—		95		—		95
Government securities	—		97		—		97		—		96		—		96
Certificates of deposit	—		2		—		2		—		—		—		—
Marketable equity securities	1		—		—		1		6		—		—		6
	1		551		—		552		6		493		—		499
Restricted cash:
Certificates of deposit	—		7		—		7		—		302		—		302
	—		7		—		7		—		302		—		302

	$	1,138	$	843	$	—	$	1,981	$	1,194	$	1,089	$	—	$	2,283

Estimated fair value and carrying value of debt instruments

The estimated fair value and carrying value of debt instruments (carrying value excludes the equity components of our convertible notes classified in equity) were as follows:



As of	February 27, 2014				August 29, 2013
	Fair Value		Carrying Value		Fair Value		Carrying Value
Convertible notes	$	5,693	$	2,658	$	4,167	$	2,506
Elpida creditor installment payments and other notes	2,907		2,843		2,269		2,279