|
Financing Receivables and Operating Leases (Tables)
|
9 Months Ended |
|
Apr. 25, 2015
|
| Receivables [Abstract] |
|
| Financing Receivables |
A summary of the Company's financing receivables is presented as follows (in millions): | | | | | | | | | | | | | | | | | April 25, 2015 | Lease Receivables | | Loan Receivables | | Financed Service Contracts and Other | | Total | Gross | $ | 3,276 |
| | $ | 1,720 |
| | $ | 3,081 |
| | $ | 8,077 |
| Residual value | 226 |
| | — |
| | — |
| | 226 |
| Unearned income | (190 | ) | | — |
| | — |
| | (190 | ) | Allowance for credit loss | (242 | ) | | (80 | ) | | (37 | ) | | (359 | ) | Total, net | $ | 3,070 |
| | $ | 1,640 |
| | $ | 3,044 |
| | $ | 7,754 |
| Reported as: | | | | | | | | Current | $ | 1,424 |
| | $ | 820 |
| | $ | 2,004 |
| | $ | 4,248 |
| Noncurrent | 1,646 |
| | 820 |
| | 1,040 |
| | 3,506 |
| Total, net | $ | 3,070 |
| | $ | 1,640 |
| | $ | 3,044 |
| | $ | 7,754 |
|
| | | | | | | | | | | | | | | | | July 26, 2014 | Lease Receivables | | Loan Receivables | | Financed Service Contracts and Other | | Total | Gross | $ | 3,532 |
| | $ | 1,683 |
| | $ | 3,210 |
| | $ | 8,425 |
| Residual value | 233 |
| | — |
| | — |
| | 233 |
| Unearned income | (238 | ) | | — |
| | — |
| | (238 | ) | Allowance for credit loss | (233 | ) | | (98 | ) | | (18 | ) | | (349 | ) | Total, net | $ | 3,294 |
| | $ | 1,585 |
| | $ | 3,192 |
| | $ | 8,071 |
| Reported as: | | | | | | | | Current | $ | 1,476 |
| | $ | 728 |
| | $ | 1,949 |
| | $ | 4,153 |
| Noncurrent | 1,818 |
| | 857 |
| | 1,243 |
| | 3,918 |
| Total, net | $ | 3,294 |
| | $ | 1,585 |
| | $ | 3,192 |
| | $ | 8,071 |
|
|
| Contractual Maturities Of The Gross Lease Receivables |
Future minimum lease payments at April 25, 2015 are summarized as follows (in millions): | | | | | Fiscal Year | Amount | 2015 (remaining three months) | $ | 498 |
| 2016 | 1,349 |
| 2017 | 857 |
| 2018 | 406 |
| 2019 | 146 |
| Thereafter | 20 |
| Total | $ | 3,276 |
|
|
| Schedule Of Internal Credit Risk Rating For Each Portfolio Segment And Class |
Gross receivables less unearned income categorized by the Company’s internal credit risk rating as of April 25, 2015 and July 26, 2014 are summarized as follows (in millions): | | | | | | | | | | | | | | | | | | INTERNAL CREDIT RISK RATING | April 25, 2015 | 1 to 4 | | 5 to 6 | | 7 and Higher | | Total | Lease receivables | $ | 1,590 |
| | $ | 1,371 |
| | $ | 125 |
| | $ | 3,086 |
| Loan receivables | 755 |
| | 816 |
| | 149 |
| | 1,720 |
| Financed service contracts and other | 1,650 |
| | 1,371 |
| | 60 |
| | 3,081 |
| Total | $ | 3,995 |
| | $ | 3,558 |
| | $ | 334 |
| | $ | 7,887 |
|
| | | | | | | | | | | | | | | | | | INTERNAL CREDIT RISK RATING | July 26, 2014 | 1 to 4 | | 5 to 6 | | 7 and Higher | | Total | Lease receivables | $ | 1,615 |
| | $ | 1,538 |
| | $ | 141 |
| | $ | 3,294 |
| Loan receivables | 953 |
| | 593 |
| | 137 |
| | 1,683 |
| Financed service contracts and other | 1,744 |
| | 1,367 |
| | 99 |
| | 3,210 |
| Total | $ | 4,312 |
| | $ | 3,498 |
| | $ | 377 |
| | $ | 8,187 |
|
|
| Schedule Of Financing Receivables By Portfolio Segment And Class Aging Analysis |
The following tables present the aging analysis of gross receivables less unearned income as of April 25, 2015 and July 26, 2014 (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | DAYS PAST DUE (INCLUDES BILLED AND UNBILLED) | | | | | | | | | April 25, 2015 | 31-60 | | 61-90 | | 91+ | | Total Past Due | | Current | | Total | | Nonaccrual Financing Receivables | | Impaired Financing Receivables | Lease receivables | $ | 102 |
| | $ | 48 |
| | $ | 138 |
| | $ | 288 |
| | $ | 2,798 |
| | $ | 3,086 |
| | $ | 38 |
| | $ | 38 |
| Loan receivables | 12 |
| | 15 |
| | 56 |
| | 83 |
| | 1,637 |
| | 1,720 |
| | 29 |
| | 29 |
| Financed service contracts and other | 99 |
| | 88 |
| | 309 |
| | 496 |
| | 2,585 |
| | 3,081 |
| | 32 |
| | 12 |
| Total | $ | 213 |
| | $ | 151 |
| | $ | 503 |
| | $ | 867 |
| | $ | 7,020 |
| | $ | 7,887 |
| | $ | 99 |
| | $ | 79 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | DAYS PAST DUE (INCLUDES BILLED AND UNBILLED) | | | | | | | | | July 26, 2014 | 31-60 | | 61-90 | | 91+ | | Total Past Due | | Current | | Total | | Nonaccrual Financing Receivables | | Impaired Financing Receivables | Lease receivables | $ | 63 |
| | $ | 46 |
| | $ | 202 |
| | $ | 311 |
| | $ | 2,983 |
| | $ | 3,294 |
| | $ | 48 |
| | $ | 41 |
| Loan receivables | 3 |
| | 21 |
| | 27 |
| | 51 |
| | 1,632 |
| | 1,683 |
| | 19 |
| | 19 |
| Financed service contracts and other | 268 |
| | 230 |
| | 220 |
| | 718 |
| | 2,492 |
| | 3,210 |
| | 12 |
| | 9 |
| Total | $ | 334 |
| | $ | 297 |
| | $ | 449 |
| | $ | 1,080 |
| | $ | 7,107 |
| | $ | 8,187 |
| | $ | 79 |
| | $ | 69 |
|
|
| Allowance For Credit Loss And Related Financing Receivables |
The allowances for credit loss and the related financing receivables are summarized as follows (in millions): | | | | | | | | | | | | | | | | | | CREDIT LOSS ALLOWANCES | Three Months Ended April 25, 2015 | Lease Receivables | | Loan Receivables | | Financed Service Contracts and Other | | Total | Allowance for credit loss as of January 24, 2015 | $ | 250 |
| | $ | 85 |
| | $ | 40 |
| | $ | 375 |
| Provisions | (4 | ) | | (5 | ) | | (2 | ) | | (11 | ) | Recoveries (write-offs), net | (1 | ) | | — |
| | — |
| | (1 | ) | Foreign exchange and other | (3 | ) | | — |
| | (1 | ) | | (4 | ) | Allowance for credit loss as of April 25, 2015 | $ | 242 |
| | $ | 80 |
| | $ | 37 |
| | $ | 359 |
| Financing receivables as of April 25, 2015 (1) | $ | 3,312 |
| | $ | 1,720 |
| | $ | 3,081 |
| | $ | 8,113 |
|
| | | | | | | | | | | | | | | | | | CREDIT LOSS ALLOWANCES | Nine Months Ended April 25, 2015 | Lease Receivables | | Loan Receivables | | Financed Service Contracts and Other | | Total | Allowance for credit loss as of July 26, 2014 | $ | 233 |
| | $ | 98 |
| | $ | 18 |
| | $ | 349 |
| Provisions | 25 |
| | (15 | ) | | 21 |
| | 31 |
| Recoveries (write-offs), net | (6 | ) | | 1 |
| | — |
| | (5 | ) | Foreign exchange and other | (10 | ) | | (4 | ) | | (2 | ) | | (16 | ) | Allowance for credit loss as of April 25, 2015 | $ | 242 |
| | $ | 80 |
| | $ | 37 |
| | $ | 359 |
|
| | | | | | | | | | | | | | | | | | CREDIT LOSS ALLOWANCES | Three Months Ended April 26, 2014 | Lease Receivables | | Loan Receivables | | Financed Service Contracts and Other | | Total | Allowance for credit loss as of January 25, 2014 | $ | 254 |
| | $ | 98 |
| | $ | 22 |
| | $ | 374 |
| Provisions | (6 | ) | | (10 | ) | | (2 | ) | | (18 | ) | Recoveries (write-offs), net | (1 | ) | | 4 |
| | (1 | ) | | 2 |
| Foreign exchange and other | 2 |
| | — |
| | — |
| | 2 |
| Allowance for credit loss as of April 26, 2014 | $ | 249 |
| | $ | 92 |
| | $ | 19 |
| | $ | 360 |
| Financing receivables as of April 26, 2014 (1) | $ | 3,537 |
| | $ | 1,621 |
| | $ | 2,810 |
| | $ | 7,968 |
|
| | | | | | | | | | | | | | | | | | CREDIT LOSS ALLOWANCES | Nine Months Ended April 26, 2014 | Lease Receivables | | Loan Receivables | | Financed Service Contracts and Other | | Total | Allowance for credit loss as of July 27, 2013 | $ | 238 |
| | $ | 86 |
| | $ | 20 |
| | $ | 344 |
| Provisions | 9 |
| | 5 |
| | — |
| | 14 |
| Recoveries (write-offs), net | — |
| | 4 |
| | (1 | ) | | 3 |
| Foreign exchange and other | 2 |
| | (3 | ) | | — |
| | (1 | ) | Allowance for credit loss as of April 26, 2014 | $ | 249 |
| | $ | 92 |
| | $ | 19 |
| | $ | 360 |
|
(1) Total financing receivables before allowance for credit loss. |
| Schedule of Property Subject to or Available for Operating Lease |
Amounts relating to equipment on operating lease assets and the associated accumulated depreciation are summarized as follows (in millions): | | | | | | | | | | April 25,
2015 | | July 26,
2014 | Operating lease assets | $ | 359 |
| | $ | 362 |
| Accumulated depreciation | (195 | ) | | (202 | ) | Operating lease assets, net | $ | 164 |
| | $ | 160 |
|
|