<SEC-DOCUMENT>0001193125-20-085066.txt : 20200427
<SEC-HEADER>0001193125-20-085066.hdr.sgml : 20200427
<ACCEPTANCE-DATETIME>20200325160732
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-20-085066
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20200325

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CISCO SYSTEMS, INC.
		CENTRAL INDEX KEY:			0000858877
		STANDARD INDUSTRIAL CLASSIFICATION:	COMPUTER COMMUNICATIONS EQUIPMENT [3576]
		IRS NUMBER:				770059951
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			0725

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		170 WEST TASMAN DR
		CITY:			SAN JOSE
		STATE:			CA
		ZIP:			95134-1706
		BUSINESS PHONE:		4085264000

	MAIL ADDRESS:	
		STREET 1:		170 WEST TASMAN DR
		CITY:			SAN JOSE
		STATE:			CA
		ZIP:			95134-1706

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CISCO SYSTEMS INC
		DATE OF NAME CHANGE:	19920703
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<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Cisco Systems, Inc. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">170 West Tasman
Drive</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">San Jose, CA 95134-1706</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Direct: 408 526 4000</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">FAX: 408 526 4100</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">www.cisco.com</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">March 25, 2020 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of
Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attn: Craig Wilson, Senior Advisor and Becky Chow, Staff Accountant </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Cisco Systems, Inc. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B>Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the Fiscal Year Ended July 27, 2019 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B>Filed September&nbsp;5, 2019 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B>Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed February&nbsp;12, 2020 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B>File No.&nbsp;000-18225 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear
Mr.&nbsp;Wilson and Ms.&nbsp;Chow: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On behalf of Cisco Systems, Inc., a California corporation (the &#147;Company&#148; or
&#147;Cisco&#148;), set forth below is the Company&#146;s response to the comments of the Staff of the Securities and Exchange Commission (the &#147;Staff&#148;) as set forth in the Staff&#146;s comment letter dated March&nbsp;23, 2020. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For ease of reference, the headings and numbers of responses set forth below correspond to the headings and numbers in the Staff&#146;s
comments, and we have set forth below, in italics, the text of the Staff&#146;s comments prior to the response. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Form <FONT
STYLE="white-space:nowrap">8-K</FONT> filed on February</U><U></U><U>&nbsp;12, 2020</U> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U><FONT STYLE="white-space:nowrap">Ex-99.1</FONT>
CISCO REPORTS SECOND QUARTER EARNINGS, page 1</U> </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>In your earnings press release, we note your presentation of
<FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Diluted Earnings per Share. Please address the following: </I> </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>Please provide a reconciliation of this <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure to the most
directly comparable GAAP measure, Diluted EPS, in a more prominent manner, such as a tabular presentation, in accordance with Item 10(e)(1)(i) of Regulation <FONT STYLE="white-space:nowrap">S-K.</FONT></I> </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>We note you provide a summary statement that <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> EPS increased 5%
year over year without equally prominent disclosure of the comparable GAAP EPS measures. Please revise accordingly. Reference is made to Question 102.10 of our <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Financial Measures
Compliance</I><I></I><I>&nbsp;&amp; Disclosure Interpretations.</I> </P></TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">March 25, 2020 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 2
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

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<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>Please revise your future <FONT STYLE="white-space:nowrap">non-GAAP</FONT> presentations, including
disclosures filed in quarterly earnings releases on Form <FONT STYLE="white-space:nowrap">8-K,</FONT> accordingly.</I> </P></TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Response:
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We acknowledge the Staff&#146;s comment regarding the presentation of <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Diluted
Earnings per Share in our earnings press release on Form <FONT STYLE="white-space:nowrap">8-K</FONT> dated February&nbsp;12, 2020. We also note Item 10(e)(1)(i) of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> and Question 102.10 of the <FONT
STYLE="white-space:nowrap">Non-GAAP</FONT> Financial Measures Compliance and Disclosure Interpretations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In accordance with the
Staff&#146;s comment, we will provide an additional reconciliation in tabular format to make the reconciliation of <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Diluted Earnings per Share (EPS) more prominent in our future <FONT
STYLE="white-space:nowrap">non-GAAP</FONT> presentations, including in the section of our earnings press releases entitled &#147;Reconciliations of GAAP to <FONT STYLE="white-space:nowrap">non-GAAP</FONT> Measures.&#148; We also undertake that in
the summary statements in our future earnings press releases, we will present comparable GAAP measures with equal or greater prominence than the related <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measures. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Should you have any questions or comments concerning this response to your comment letter, please contact me at (408) <FONT
STYLE="white-space:nowrap">526-7815,</FONT> or Evan Sloves, Deputy General Counsel and Secretary, at (408) <FONT STYLE="white-space:nowrap">525-2061.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:55%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Sincerely, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:55%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">/s/ Prat S. Bhatt </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:55%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Prat S. Bhatt </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:55%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Senior Vice President </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:55%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Chief Accounting Officer </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">cc:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Charles H. Robbins, Cisco Systems, Inc. </P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Kelly A. Kramer, Cisco Systems, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Mark Chandler, Cisco Systems, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">David A. Bell, Fenwick&nbsp;&amp; West LLP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Conall Dempsey, PricewaterhouseCoopers LLP </P>
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