XML 155 R47.htm IDEA: XBRL DOCUMENT
v3.19.2

Income Taxes (Tables) | 12 Months Ended
--- | ---
Jul. 27, 2019
Income Tax Disclosure [Abstract] |
Provision for Income Taxes | The provision for income taxes consists of the following (in millions):
Years Ended | July 27, 2019 |  | July 28, 2018 |  | July 29, 2017
Federal: |  |  |  |  |
Current | $ | 1,760 |  |  | $ | 9,900 |  |  | $ | 1,300 |
Deferred | (84 | ) |  | 1,156 |  |  | (42 | )
| 1,676 |  |  | 11,056 |  |  | 1,258 |
State: |  |  |  |  |
Current | 302 |  |  | 340 |  |  | 86 |
Deferred | (2 | ) |  | (232 | ) |  | 56 |
| 300 |  |  | 108 |  |  | 142 |
Foreign: |  |  |  |  |
Current | 1,238 |  |  | 1,789 |  |  | 1,416 |
Deferred | (264 | ) |  | (24 | ) |  | (138 | )
| 974 |  |  | 1,765 |  |  | 1,278 |
Total | $ | 2,950 |  |  | $ | 12,929 |  |  | $ | 2,678 |
Income Before Provision for Income Taxes | Income before provision for income taxes consists of the following (in millions):
Years Ended | July 27, 2019 |  | July 28, 2018 |  | July 29, 2017
United States | $ | 7,611 |  |  | $ | 3,765 |  |  | $ | 2,393 |
International | 6,960 |  |  | 9,274 |  |  | 9,894 |
Total | $ | 14,571 |  |  | $ | 13,039 |  |  | $ | 12,287 |
Difference Between Income Taxes at Federal Statutory Rate and Provision for Income Taxes | The items accounting for the difference between income taxes computed at the federal statutory rate and the provision for income taxes consist of the following:
Years Ended | July 27, 2019 |  | July 28, 2018 |  | July 29, 2017
Federal statutory rate | 21.0 | % |  | 27.0 | % |  | 35.0 | %
Effect of: |  |  |  |  |
State taxes, net of federal tax benefit | 2.0 |  |  | 0.6 |  |  | 1.1 |
Foreign income at other than U.S. rates | (4.5 | ) |  | (5.2 | ) |  | (13.4 | )
Tax credits | (1.7 | ) |  | (2.5 | ) |  | (1.2 | )
Foreign-derived intangible income deduction | (1.3 | ) |  | — |  |  | — |
Domestic manufacturing deduction | — |  |  | (0.5 | ) |  | (0.4 | )
Stock-based compensation | (0.6 | ) |  | (0.1 | ) |  | 1.4 |
Impact of the Tax Act | 6.1 |  |  | 80.1 |  |  | — |
Other, net | (0.8 | ) |  | (0.2 | ) |  | (0.7 | )
Total | 20.2 | % |  | 99.2 | % |  | 21.8 | %
Aggregate Changes in Gross Unrecognized Tax Benefits | The aggregate changes in the balance of gross unrecognized tax benefits were as follows (in millions):
Years Ended | July 27, 2019 |  | July 28, 2018 |  | July 29, 2017
Beginning balance | $ | 2,000 |  |  | $ | 1,973 |  |  | $ | 1,627 |
Additions based on tax positions related to the current year | 185 |  |  | 251 |  |  | 336 |
Additions for tax positions of prior years | 84 |  |  | 84 |  |  | 180 |
Reductions for tax positions of prior years | (283 | ) |  | (129 | ) |  | (78 | )
Settlements | (38 | ) |  | (124 | ) |  | (43 | )
Lapse of statute of limitations | (23 | ) |  | (55 | ) |  | (49 | )
Ending balance | $ | 1,925 |  |  | $ | 2,000 |  |  | $ | 1,973 |
Components of Deferred Tax Assets and Liabilities | The following table presents the breakdown for net deferred tax assets (in millions):
| July 27, 2019 |  | July 28, 2018
Deferred tax assets | $ | 4,065 |  |  | $ | 3,219 |
Deferred tax liabilities | (95 | ) |  | (141 | )
Total net deferred tax assets | $ | 3,970 |  |  | $ | 3,078 |
The following table presents the components of the deferred tax assets and liabilities (in millions):
| July 27, 2019 |  | July 28, 2018
ASSETS |  |  |
Allowance for doubtful accounts and returns | $ | 127 |  |  | $ | 285 |
Sales-type and direct-financing leases | 176 |  |  | 171 |
Inventory write-downs and capitalization | 409 |  |  | 289 |
Investment provisions | — |  |  | 54 |
IPR&D, goodwill, and purchased intangible assets | 1,427 |  |  | 63 |
Deferred revenue | 1,150 |  |  | 1,584 |
Credits and net operating loss carryforwards | 1,241 |  |  | 1,087 |
Share-based compensation expense | 164 |  |  | 190 |
Accrued compensation | 342 |  |  | 370 |
Other | 419 |  |  | 408 |
Gross deferred tax assets | 5,455 |  |  | 4,501 |
Valuation allowance | (457 | ) |  | (374 | )
Total deferred tax assets | 4,998 |  |  | 4,127 |
LIABILITIES |  |  |
Purchased intangible assets | (705 | ) |  | (753 | )
Depreciation | (141 | ) |  | (118 | )
Unrealized gains on investments | (70 | ) |  | (33 | )
Other | (112 | ) |  | (145 | )
Total deferred tax liabilities | (1,028 | ) |  | (1,049 | )
Total net deferred tax assets | $ | 3,970 |  |  | $ | 3,078 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=117331294&loc=d3e36027-109320 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration