Emerging non-volatile memory (NVM) technologies, such as spin-transfer torque RAM (STT-RAM), are attractive options for replacing or augmenting SRAM in implementing last-level caches (LLCs). However, the asymmetric read/write energy and latency associated with NVM introduces new challenges in designing caches where, in contrast to SRAM, dynamic energy from write operations can be responsible for a larger fraction of total cache energy than leakage.