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Shareholders' Equity | 12 Months Ended
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Jul. 28, 2012
Shareholders' Equity | 13. Shareholders’ Equity (a) Stock Repurchase Program In September 2001, the Company’s Board of Directors authorized a stock repurchase program. As of July 28, 2012, the Company’s Board of Directors had authorized an aggregate repurchase of up to $82 billion of common stock under this program, and the remaining authorized repurchase amount was $5.9 billion with no termination date. A summary of the stock repurchase activity under the stock repurchase program, reported based on the trade date, is summarized as follows (in millions, except per-share amounts):
|  | Shares Repurchased |  |  | Weighted- Average Price per Share |  |  | Amount Repurchased |
Cumulative balance at July 31, 2010 |  |  | 3,127 |  |  | $ | 20.78 |  |  | $ | 64,982 |
Repurchase of common stock under the stock repurchase program |  |  | 351 |  |  |  | 19.36 |  |  |  | 6,791 |
Cumulative balance at July 30, 2011 |  |  | 3,478 |  |  | $ | 20.64 |  |  | $ | 71,773 |
Repurchase of common stock under the stock repurchase program |  |  | 262 |  |  |  | 16.64 |  |  |  | 4,360 |
Cumulative balance at July 28, 2012 |  |  | 3,740 |  |  | $ | 20.36 |  |  | $ | 76,133 |
The purchase price for the shares of the Company’s stock repurchased is reflected as a reduction to shareholders’ equity. The Company is required to allocate the purchase price of the repurchased shares as (i) a reduction to retained earnings and (ii) a reduction of common stock and additional paid-in capital. Issuance of common stock and the tax benefit related to employee stock incentive plans are recorded as an increase to common stock and additional paid-in capital. (b) Cash Dividends on Shares of Common Stock During fiscal 2012, the Company paid cash dividends of $0.28 per common share, or $1.5 billion, on the Company’s outstanding common stock. During fiscal 2011, the Company paid cash dividends of $0.12 per common share, or $658 million, on the Company’s outstanding common stock. On August 14, 2012, the Company’s Board of Directors declared a quarterly dividend of $0.14 per common share to be paid on October 24, 2012 to all shareholders of record as of the close of business on October 4, 2012. Any future dividends will be subject to the approval of the Company’s Board of Directors. (c) Other Repurchases of Common Stock For the years ended July 28, 2012 and July 30, 2011, the Company repurchased approximately 12 million and 10 million shares, or $200 million and $183 million, of common stock, respectively, in settlement of employee tax withholding obligations due upon the vesting of restricted stock or stock units. (d) Preferred Stock Under the terms of the Company’s Articles of Incorporation, the Board of Directors may determine the rights, preferences, and terms of the Company’s authorized but unissued shares of preferred stock. (e) Comprehensive Income The components of comprehensive income, net of tax, are as follows (in millions):
Years Ended |  | July 28, 2012 |  |  | July 30, 2011 |  |  | July 31, 2010 |
Net income |  | $ | 8,041 |  |  | $ | 6,490 |  |  | $ | 7,767 |
Net change in unrealized gains/losses on available-for-sale investments: |  |  |  |  |  |  |  |  |  |  |  |
Change in net unrealized (losses) gains, net of tax benefit (expense) of $6, $(151), and $(199) for fiscal 2012, 2011, and 2010, respectively |  |  | (31 | ) |  |  | 281 |  |  |  | 334 |
Net (gains) losses reclassified into earnings, net of tax effects of $36, $68, and $17 for fiscal 2012, 2011, and 2010, respectively |  |  | (65 | ) |  |  | (112 | ) |  |  | (151 | )
|  |  | (96 | ) |  |  | 169 |  |  |  | 183 |
Net change in unrealized gains/losses on derivative instruments: |  |  |  |  |  |  |  |  |  |  |  |
Change in derivative instruments, net of tax benefit (expense) of $0, $0 and $(9) for fiscal 2012, 2011, and 2010, respectively |  |  | (131 | ) |  |  | 87 |  |  |  | 46 |
Net losses (gains) reclassified into earnings |  |  | 72 |  |  |  | (108 | ) |  |  | 2 |
|  |  | (59 | ) |  |  | (21 | ) |  |  | 48 |
Net change in cumulative translation adjustment and other, net of tax benefit (expense) of $36, $(34), and $(9) for fiscal 2012, 2011, and 2010, respectively |  |  | (496 | ) |  |  | 538 |  |  |  | (55 | )
Comprehensive income |  |  | 7,390 |  |  |  | 7,176 |  |  |  | 7,943 |
Comprehensive loss (income) attributable to noncontrolling interests |  |  | 18 |  |  |  | (15 | ) |  |  | 12 |
Comprehensive income attributable to Cisco Systems, Inc. |  | $ | 7,408 |  |  | $ | 7,161 |  |  | $ | 7,955 |
The components of AOCI, net of tax, are summarized as follows (in millions):
|  | July 28, 2012 |  |  | July 30, 2011 |  |  | July 31, 2010 |
Net unrealized gains on investments |  | $ | 409 |  |  | $ | 487 |  |  | $ | 333 |
Net unrealized (losses) gains on derivative instruments |  |  | (53 | ) |  |  | 6 |  |  |  | 27 |
Cumulative translation adjustment and other |  |  | 305 |  |  |  | 801 |  |  |  | 263 |
Total |  | $ | 661 |  |  | $ | 1,294 |  |  | $ | 623 |

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- Definition The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 3, 4, 5, 6, 7, 8 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 4 -Section 08 -Paragraph d Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Chapter 1 -Section B -Paragraph 7, 11A -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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