Financing Receivables and Operating Leases (Tables)
|
3 Months Ended |
Oct. 29, 2016 |
|---|
| Receivables [Abstract] |
|
| Financing Receivables |
A summary of the Company's financing receivables is presented as follows (in millions): | | | | | | | | | | | | | | | | | October 29, 2016 | Lease Receivables | | Loan Receivables | | Financed Service Contracts and Other | | Total | Gross | $ | 3,202 |
| | $ | 2,236 |
| | $ | 4,239 |
| | $ | 9,677 |
| Residual value | 197 |
| | — |
| | — |
| | 197 |
| Unearned income | (163 | ) | | — |
| | — |
| | (163 | ) | Allowance for credit loss | (227 | ) | | (111 | ) | | (48 | ) | | (386 | ) | Total, net | $ | 3,009 |
| | $ | 2,125 |
| | $ | 4,191 |
| | $ | 9,325 |
| Reported as: | | | | | | | | Current | $ | 1,504 |
| | $ | 1,021 |
| | $ | 2,016 |
| | $ | 4,541 |
| Noncurrent | 1,505 |
| | 1,104 |
| | 2,175 |
| | 4,784 |
| Total, net | $ | 3,009 |
| | $ | 2,125 |
| | $ | 4,191 |
| | $ | 9,325 |
|
| | | | | | | | | | | | | | | | | July 30, 2016 | Lease Receivables | | Loan Receivables | | Financed Service Contracts and Other | | Total | Gross | $ | 3,272 |
| | $ | 2,135 |
| | $ | 3,370 |
| | $ | 8,777 |
| Residual value | 202 |
| | — |
| | — |
| | 202 |
| Unearned income | (174 | ) | | — |
| | — |
| | (174 | ) | Allowance for credit loss | (230 | ) | | (97 | ) | | (48 | ) | | (375 | ) | Total, net | $ | 3,070 |
| | $ | 2,038 |
| | $ | 3,322 |
| | $ | 8,430 |
| Reported as: | | | | | | | | Current | $ | 1,490 |
| | $ | 988 |
| | $ | 1,794 |
| | $ | 4,272 |
| Noncurrent | 1,580 |
| | 1,050 |
| | 1,528 |
| | 4,158 |
| Total, net | $ | 3,070 |
| | $ | 2,038 |
| | $ | 3,322 |
| | $ | 8,430 |
|
|
| Contractual Maturities Of The Gross Lease Receivables |
Future minimum lease payments to the Company on lease receivables as of October 29, 2016 are summarized as follows (in millions): | | | | | Fiscal Year | Amount | 2017 (remaining nine months) | $ | 1,222 |
| 2018 | 1,066 |
| 2019 | 587 |
| 2020 | 260 |
| 2021 | 65 |
| Thereafter | 2 |
| Total | $ | 3,202 |
|
|
| Schedule Of Internal Credit Risk Rating For Each Portfolio Segment And Class |
Gross receivables, excluding residual value, less unearned income categorized by the Company’s internal credit risk rating as of October 29, 2016 and July 30, 2016 are summarized as follows (in millions): | | | | | | | | | | | | | | | | | | INTERNAL CREDIT RISK RATING | October 29, 2016 | 1 to 4 | | 5 to 6 | | 7 and Higher | | Total | Lease receivables | $ | 1,652 |
| | $ | 1,293 |
| | $ | 94 |
| | $ | 3,039 |
| Loan receivables | 1,081 |
| | 976 |
| | 179 |
| | 2,236 |
| Financed service contracts and other | 2,898 |
| | 1,313 |
| | 28 |
| | 4,239 |
| Total | $ | 5,631 |
| | $ | 3,582 |
| | $ | 301 |
| | $ | 9,514 |
|
| | | | | | | | | | | | | | | | | | INTERNAL CREDIT RISK RATING | July 30, 2016 | 1 to 4 | | 5 to 6 | | 7 and Higher | | Total | Lease receivables | $ | 1,703 |
| | $ | 1,294 |
| | $ | 101 |
| | $ | 3,098 |
| Loan receivables | 986 |
| | 967 |
| | 182 |
| | 2,135 |
| Financed service contracts and other | 2,077 |
| | 1,271 |
| | 22 |
| | 3,370 |
| Total | $ | 4,766 |
| | $ | 3,532 |
| | $ | 305 |
| | $ | 8,603 |
|
|
| Schedule Of Financing Receivables By Portfolio Segment And Class Aging Analysis |
The following tables present the aging analysis of gross receivables, excluding residual value and less unearned income as of October 29, 2016 and July 30, 2016 (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | DAYS PAST DUE (INCLUDES BILLED AND UNBILLED) | | | | | | | | | October 29, 2016 | 31-60 | | 61-90 | | 91+ | | Total Past Due | | Current | | Total | | Nonaccrual Financing Receivables | | Impaired Financing Receivables | Lease receivables | $ | 86 |
| | $ | 70 |
| | $ | 249 |
| | $ | 405 |
| | $ | 2,634 |
| | $ | 3,039 |
| | $ | 55 |
| | $ | 55 |
| Loan receivables | 25 |
| | 23 |
| | 95 |
| | 143 |
| | 2,093 |
| | 2,236 |
| | 42 |
| | 42 |
| Financed service contracts and other | 317 |
| | 338 |
| | 367 |
| | 1,022 |
| | 3,217 |
| | 4,239 |
| | 29 |
| | 9 |
| Total | $ | 428 |
| | $ | 431 |
| | $ | 711 |
| | $ | 1,570 |
| | $ | 7,944 |
| | $ | 9,514 |
| | $ | 126 |
| | $ | 106 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | DAYS PAST DUE (INCLUDES BILLED AND UNBILLED) | | | | | | | | | July 30, 2016 | 31-60 | | 61-90 | | 91+ | | Total Past Due | | Current | | Total | | Nonaccrual Financing Receivables | | Impaired Financing Receivables | Lease receivables | $ | 111 |
| | $ | 25 |
| | $ | 251 |
| | $ | 387 |
| | $ | 2,711 |
| | $ | 3,098 |
| | $ | 60 |
| | $ | 60 |
| Loan receivables | 30 |
| | 9 |
| | 37 |
| | 76 |
| | 2,059 |
| | 2,135 |
| | 42 |
| | 42 |
| Financed service contracts and other | 213 |
| | 152 |
| | 565 |
| | 930 |
| | 2,440 |
| | 3,370 |
| | 30 |
| | 10 |
| Total | $ | 354 |
| | $ | 186 |
| | $ | 853 |
| | $ | 1,393 |
| | $ | 7,210 |
| | $ | 8,603 |
| | $ | 132 |
| | $ | 112 |
|
|
| 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 | | Lease Receivables | | Loan Receivables | | Financed Service Contracts and Other | | Total | Allowance for credit loss as of July 30, 2016 | $ | 230 |
| | $ | 97 |
| | $ | 48 |
| | $ | 375 |
| Provisions | (4 | ) | | 12 |
| | — |
| | 8 |
| Foreign exchange and other | 1 |
| | 2 |
| | — |
| | 3 |
| Allowance for credit loss as of October 29, 2016 | $ | 227 |
| | $ | 111 |
| | $ | 48 |
| | $ | 386 |
|
| | | | | | | | | | | | | | | | | | CREDIT LOSS ALLOWANCES | | Lease Receivables | | Loan Receivables | | Financed Service Contracts and Other | | Total | Allowance for credit loss as of July 25, 2015 | $ | 259 |
| | $ | 87 |
| | $ | 36 |
| | $ | 382 |
| Provisions | — |
| | 4 |
| | — |
| | 4 |
| Recoveries (write-offs), net | (4 | ) | | — |
| | (3 | ) | | (7 | ) | Foreign exchange and other | — |
| | (1 | ) | | — |
| | (1 | ) | Allowance for credit loss as of October 24, 2015 | $ | 255 |
| | $ | 90 |
| | $ | 33 |
| | $ | 378 |
|
|
| 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): | | | | | | | | | | October 29, 2016 | | July 30, 2016 | Operating lease assets | $ | 301 |
| | $ | 296 |
| Accumulated depreciation | (168 | ) | | (161 | ) | Operating lease assets, net | $ | 133 |
| | $ | 135 |
|
|
| Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] |
Minimum future rentals on noncancelable operating leases as of October 29, 2016 are summarized as follows (in millions): | | | | | Fiscal Year | Amount | 2017 (remaining nine months) | $ | 179 |
| 2018 | 142 |
| 2019 | 53 |
| 2020 | 8 |
| 2021 | 4 |
| Thereafter | 1 |
| Total | $ | 387 |
|
|