Balance Sheet and Other Details

12 Months Ended

Jul. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The following tables provide details of selected balance sheet and other items (in millions):

Cash, Cash Equivalents, and Restricted Cash


	July 31, 2021		July 25, 2020
Cash and cash equivalents	$	9,175	$	11,809
Restricted cash included in other current assets	14		—
Restricted cash included in other assets	753		3
Total cash, cash equivalents, and restricted cash	$	9,942	$	11,812

Our restricted cash balances are funds primarily related to contractual obligations with suppliers.

Inventories


	July 31, 2021		July 25, 2020
Raw materials	$	801	$	456
Work in process	54		25
Finished goods:
Deferred cost of sales	97		59
Manufactured finished goods	422		542
Total finished goods	519		601
Service-related spares	174		184
Demonstration systems	11		16
Total	$	1,559	$	1,282

Our provision for inventory was $116 million, $74 million, and $77 million in fiscal 2021, 2020, and 2019, respectively.

Property and Equipment, Net


	July 31, 2021		July 25, 2020
Gross property and equipment:
Land, buildings, and building and leasehold improvements	$	4,304	$	4,252
Computer equipment and related software	858		875
Production, engineering, and other equipment	5,106		5,163
Operating lease assets	273		337
Furniture, fixtures and other	377		387
Total gross property and equipment	10,918		11,014
Less: accumulated depreciation and amortization	(8,580)		(8,561)
Total	$	2,338	$	2,453

Remaining Performance Obligations


	July 31, 2021		July 25, 2020
Product	$	13,270	$	11,261
Service	17,623		17,093
Total	$	30,893	$	28,354

Remaining Performance Obligations (RPO) are comprised of deferred revenue plus unbilled contract revenue. As of July 31, 2021, the aggregate amount of RPO was comprised of $22.2 billion of deferred revenue and $8.7 billion of unbilled contract revenue. We expect approximately 53% of this amount to be recognized as revenue over the next 12 months. As of July 25, 2020, the aggregate amount of RPO was comprised of $20.4 billion of deferred revenue and $7.9 billion of unbilled contract revenue. Unbilled contract revenue represents noncancelable contracts for which we have not invoiced, have an obligation to perform, and revenue has not yet been recognized in the financial statements.

Deferred Revenue


	July 31, 2021		July 25, 2020
Product	$	9,416	$	7,895
Service	12,748		12,551
Total	$	22,164	$	20,446
Reported as:
Current	$	12,148	$	11,406
Noncurrent	10,016		9,040
Total	$	22,164	$	20,446