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Financing Receivables (Tables)

12 Months Ended

Jul. 31, 2021

Receivables [Abstract]

Financing Receivables

A summary of our financing receivables is presented as follows (in millions):

July 31, 2021			Lease Receivables						Loan Receivables						Financed Service Contracts						Total
Gross			$	1,710					$	5,203					$	2,453					$	9,366
Residual value			103						—						—						103
Unearned income			(78)						—						—						(78)
Allowance for credit loss			(38)						(86)						(3)						(127)
Total, net			$	1,697					$	5,117					$	2,450					$	9,264
Reported as:
Current			$	780					$	2,372					$	1,228					$	4,380
Noncurrent			917						2,745						1,222						4,884
Total, net			$	1,697					$	5,117					$	2,450					$	9,264

July 25, 2020			Lease Receivables						Loan Receivables						Financed Service Contracts						Total
Gross			$	2,127					$	5,937					$	2,830					$	10,894
Residual value			123						—						—						123
Unearned income			(114)						—						—						(114)
Allowance for credit loss			(48)						(81)						(9)						(138)
Total, net			$	2,088					$	5,856					$	2,821					$	10,765
Reported as:
Current			$	918					$	2,692					$	1,441					$	5,051
Noncurrent			1,170						3,164						1,380						5,714
Total, net			$	2,088					$	5,856					$	2,821					$	10,765

Schedule of Financing Receivables by Internal Credit Risk Rating by Period of Origination

Gross financing receivables(1) categorized by our internal credit risk rating by period of origination as of July 31, 2021 are summarized as follows (in millions):

									Fiscal Year
Internal Credit Risk Rating			Prior						July 29, 2017						July 28, 2018						July 27, 2019						July 25, 2020						July 31, 2021						Total
Lease Receivables:
1 to 4			$	2					$	20					$	100					$	168					$	282					$	227					$	799
5 to 6			1						17						65						187						285						231						786
7 and Higher			—						2						6						12						23						4						47
Total Lease Receivables			$	3					$	39					$	171					$	367					$	590					$	462					$	1,632
Loan Receivables:
1 to 4			$	4					$	86					$	134					$	577					$	990					$	1,552					$	3,343
5 to 6			—						19						75						202						505						925						1,726
7 and Higher			1						2						4						50						43						34						134
Total Loan Receivables			$	5					$	107					$	213					$	829					$	1,538					$	2,511					$	5,203
Financed Service Contracts:
1 to 4			$	—					$	38					$	26					$	106					$	252					$	1,053					$	1,475
5 to 6			—						6						26						105						302						520						959
7 and Higher			—						—						1						6						7						5						19
Total Financed Service Contracts			$	—					$	44					$	53					$	217					$	561					$	1,578					$	2,453
Total			$	8					$	190					$	437					$	1,413					$	2,689					$	4,551					$	9,288

(1) Lease receivables calculated as gross lease receivables, excluding residual value, less unearned income.

The following table summarizes our gross receivables categorized by our internal credit risk rating as of July 25, 2020 and was not restated to reflect the impact of adoption of the accounting standards update on Credit Losses on Financial Instruments:

			INTERNAL CREDIT RISK RATING
July 25, 2020			1 to 4						5 to 6						7 and Higher						Total
Lease receivables			$	992					$	952					$	69					$	2,013
Loan receivables			3,808						1,961						168						5,937
Financed service contracts			1,645						1,153						32						2,830
Total			$	6,445					$	4,066					$	269					$	10,780

Schedule of Aging Analysis of Financing Receivables

The following tables present the aging analysis of gross receivables as of July 31, 2021 and July 25, 2020 (in millions):

			DAYS PAST DUE (INCLUDES BILLED AND UNBILLED)
July 31, 2021			31 - 60						61 - 90						91+						Total Past Due						Current						Total						120+ Still Accruing						Nonaccrual Financing Receivables						Impaired Financing Receivables
Lease receivables			$	21					$	17					$	29					$	67					$	1,565					$	1,632					$	1					$	33					$	26
Loan receivables			71						17						35						123						5,080						5,203						4						33						33
Financed service contracts			18						13						18						49						2,404						2,453						3						3						3
Total			$	110					$	47					$	82					$	239					$	9,049					$	9,288					$	8					$	69					$	62

			DAYS PAST DUE (INCLUDES BILLED AND UNBILLED)
July 25, 2020			31 - 60						61 - 90						91+						Total Past Due						Current						Total						Nonaccrual Financing Receivables						Impaired Financing Receivables
Lease receivables			$	29					$	47					$	48					$	124					$	1,889					$	2,013					$	43					$	43
Loan receivables			129						78						78						285						5,652						5,937						65						65
Financed service contracts			69						75						124						268						2,562						2,830						4						4
Total			$	227					$	200					$	250					$	677					$	10,103					$	10,780					$	112					$	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						Total
Allowance for credit loss as of July 25, 2020			$	48					$	81					$	9					$	138
Provisions (benefits)			(10)						(12)						(5)						(27)
Recoveries (write-offs), net			(1)						(1)						—						(2)
Foreign exchange and other			1						18						(1)						18
Allowance for credit loss as of July 31, 2021			$	38					$	86					$	3					$	127

			CREDIT LOSS ALLOWANCES
			Lease Receivables						Loan Receivables						Financed Service Contracts						Total
Allowance for credit loss as of July 27, 2019			$	46					$	71					$	9					$	126
Provisions (benefits)			5						32						1						38
Recoveries (write-offs), net			(3)						(19)						—						(22)
Foreign exchange and other			—						(3)						(1)						(4)
Allowance for credit loss as of July 25, 2020			$	48					$	81					$	9					$	138

			CREDIT LOSS ALLOWANCES
			Lease Receivables						Loan Receivables						Financed Service Contracts						Total
Allowance for credit loss as of July 28, 2018			$	135					$	60					$	10					$	205
Provisions (benefits)			(54)						11						27						(16)
Recoveries (write-offs), net			(14)						—						(28)						(42)
Foreign exchange and other			(21)						—						—						(21)
Allowance for credit loss as of July 27, 2019			$	46					$	71					$	9					$	126

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Tabular disclosure of allowance for credit loss on financing receivable.

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Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

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