1 unchanged sentence
In addition to our principal facilities described below, we own or lease numerous other facilities in locations throughout the world used for design, R&D, and sales and marketing activities.
−Removed: The following is a summary of our principal facilities as of September 1, 2022:
+Added: The following is a summary of our principal facilities as of August 31, 2023:
Location Principal Operations
5 unchanged sentences
China Component assembly and test, module assembly and test
+Added: We believe that our existing facilities are suitable and adequate for our present purposes.
We generally utilize all of our manufacturing capacity;
−Removed: however, a portion of our MTU facility was underutilized for 2022, 2021, and 2020.
−Removed: Our MTU facility was sold in the first quarter of 2022.
+Added: however, a portion of our facilities were underutilized for 2023 due to industry conditions.
+Added: See “Part II – Item 7.
+Added: Management’s Discussion and Analysis of Financial Condition and Results of Operations – Overview – Industry Conditions” for information regarding our current underutilization.
To support expected memory demand in the second half of the decade, we will need to add new DRAM wafer capacity.
1 unchanged sentence
As part of this plan, in September 2022, we broke ground on a leading-edge memory manufacturing fab in Boise, Idaho.
−Removed: Construction of the fab is expected to begin in calendar 2023 with DRAM production targeted to start in calendar 2025.
+Added: Construction of the fab began in October 2023 with DRAM production targeted to start in calendar 2025 and first output in early calendar 2026.
In addition, in October 2022, we announced plans to build a second leading-edge DRAM manufacturing fab in Clay, New York.
−Removed: We plan to start site preparation work in calendar 2023 and expect construction to begin in calendar 2024, with production anticipated to ramp in the latter half of the decade.
+Added: We expect construction to begin in calendar 2024, with production anticipated to ramp in the latter half of the decade.
We expect these new fabs to fulfill our requirements for additional wafer capacity starting in the second half of the decade and beyond, in line with industry demand trends.
−Removed: We believe that our existing facilities are suitable and adequate for our present purposes.
+Added: On August 21, 2023 we announced that two of our subsidiaries had each submitted full applications on August 18, 2023 for federal funding in the form of grants under the CHIPS Act for both of these projects.
+Added: We are also advancing our global back-end assembly and test network in order to support our product portfolio and extend our ability to deliver on global customer demand in the future.
+Added: We intend to make investments at our backend facility in Xi’an, China, including a new building to provide space to add more product capability, to allow us over time to serve more of the demand from our customers in China from the Xi’an facility.
+Added: We also intend to build a new assembly and test facility in Gujarat, India to address demand in the latter half of this decade.
We do not identify or allocate assets by operating segment, other than goodwill.
−Removed: See “Part II – Item 8.
−Removed: Financial Statements and Supplementary Data – Notes to Consolidated Financial Statements – Lehi, Utah Fab and 3D XPoint” and “ – Geographic Information.”
+Added: For a breakout of the carrying value of our long-lived assets by geographic area see “Part II – Item 8.
+Added: Financial Statements and Supplementary Data – Notes to Consolidated Financial Statements – Geographic Information.”
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.